IMAX (IMAX) is projected to exceed 50% EBITDA margins by 2028, driven by high-quality filmed-for-IMAX titles, a broader global presence, and rising local-language and alternative content, Wedbush Securities said Monday in a report.

At its investor day, the company outlined a "clear, cogent growth strategy" for 2026, forecasting global box office on IMAX screens to rise 12% to $1.4 billion, ahead of estimates, Wedbush said.

System installations in 2026 are expected to rise 8% to 160 to 175 new locations, topping consensus, and IMAX forecast adjusted EBITDA margins in the mid-40% range, broadly in line with Wedbush's expectations and ahead of consensus, the report said.

Even with a flat broader global box office, IMAX revenue is expected to grow as the company expands its reach and strengthens its strategy around filmed-for-IMAX, alternative, and local-language releases, the report said.

Wedbush raised its price target on IMAX stock to $46 from $39 and kept its outperform rating.

IMAX shares rose 7.4% in recent Monday trading.

Price: 38.36, Change: +2.65, Percent Change: +7.42