What's Going On With AMC Entertainment Stock?
Portfolio Pulse from Erica Kollmann
AMC Entertainment Holdings, Inc. (NYSE:AMC) shares have surged over 38% in the past five days despite no specific company news. Wedbush analyst Alicia Reese maintained a Neutral rating on AMC, lowering the price target from $6 to $4 due to the company's heavy debt. CEO Adam Aron reaffirmed his commitment to shareholders, stating he hasn't sold any shares since January 2022. AMC is expected to report earnings in early May, with analysts forecasting losses of 82 cents per share and quarterly revenue of $839.602 million. The average 12-month price target among analysts is $5, with a high of $6 and a low of $4.
April 22, 2024 | 5:01 pm
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AMC Entertainment's stock has rallied over 38% in five days despite no specific news, with a recent analyst rating adjustment and upcoming earnings report.
The surge in AMC's stock price despite the lack of company-specific news and the upcoming earnings report may indicate investor optimism. However, the lowered price target by Wedbush due to debt concerns could temper expectations. CEO Aron's pledge of support may positively influence investor sentiment. The expected earnings report in May will be crucial for future price movements, especially with the forecasted losses.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100