In a report released today, Eric Wold from B.Riley FBR reiterated a Buy rating on AMC Entertainment (AMC – Research Report), with a price target of $22. The company’s shares closed last Monday at $11.52.
“We remain confident in our decision on 8/9 to add AMC to the B. Riley FBR Alpha Generator given a yet-to-be-maximized marketing engine, multiple levers to drive seat monetization and margin expansion as well as an accelerated path toward balance sheet deleveraging. We are reiterating our Buy rating and $22 PT.”
According to TipRanks.com, Wold has 0 stars on 0-5 star ranking scale with an average return of -7.0% and a 35.2% success rate. Wold covers the Services sector, focusing on stocks such as Cinemark Holdings Inc, National Cinemedia, and Red Lion Hotels.
Currently, the analyst consensus on AMC Entertainment is a Strong Buy with an average price target of $15.94.
Based on AMC Entertainment’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $49.4 million. In comparison, last year the company had a net profit of $22.2 million.
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AMC Entertainment Holdings, Inc. engages in the theatrical exhibition business through its subsidiaries. It operates through the United States Markets and International Markets segments. The company was founded on June 6, 2007 and is headquartered in Leawood, KS.