Can Box Office Trends, Retail Support Bolster AMC Entertainment? Why One Analyst Upgraded The Stock
Portfolio Pulse from Adam Eckert
AMC Entertainment Holdings Inc's stock began trading on a split-adjusted basis, causing a plunge due to shareholder pushback against the reverse split and APE conversion. However, Wedbush analyst Alicia Reese upgraded AMC from an Underperform rating to a Neutral rating and set a price target of $19. Reese believes AMC is well positioned for its third-quarter report and expects the stock to benefit from improving box office trends. AMC is also expected to benefit from an increase in moviegoers opting for premium viewing options and improvements in European box office trends.
August 24, 2023 | 2:36 pm
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AMC's stock has been upgraded by a Wedbush analyst, which could potentially stabilize the stock after its recent plunge due to a reverse split and APE conversion. The company is expected to benefit from improving box office trends.
The upgrade of AMC's stock by a Wedbush analyst, along with the expected improvement in box office trends, could potentially stabilize the stock after its recent plunge. However, the impact of the reverse split and APE conversion on the stock's performance remains uncertain.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100