Imax, Cinemark shares could offer upside in 2024 despite challenges for movie theaters, Macquarie says

Movie-theater stocks may be facing a tough first-quarter domestic box office, but they could be set for upside later this year, according to Macquarie Equity Research. “Theatrical stocks underperformed in ’23 after a difficult ’22 and remain ~60% off of pre-pandemic levels, while questions remain for ’24,” Macquarie analyst Chad Beynon wrote in a note released Monday. “Unfortunately, the outlook for ’24 has questions again, following Hollywood strikes and slower post-pandemic core demand.”He added: “We’re t ...