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Wedbush Downgrades AMC Stock on Expectation of Retail ‘Cash Out’ -Breaking

by Mike Robinson

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© Reuters

Sam Boughedda

Investing.com — AMC Entertainment Holdings Inc (NYSE:) shares fell 2.6% Thursday following a bearish rating from Wedbush analyst Michael Pachter.

Pachter downgraded shares to make them underperform, while keeping their price target at $7.50. 

According to analysts, the company is valued at $7.50. The analyst believes that this price target values it “generously”.

Pachter stated in a note addressed to investors that the “ultimate majority” of retail owner will eventually sell and relocate.

The analyst remains positive about the industry as theater attendance increased in the third quarter after top-tier films were added to the schedule. The fourth quarter box-office sales thus far have been encouraging, he said. 

Stocks of the American chain of movie theaters traded at $39.72 by mid-morning.

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