These Analysts Boost Their Forecasts On AMC Entertainment Following Upbeat Q2 Results

AMC Entertainment Holdings, Inc. Class A

AMC Entertainment Holdings, Inc. Class A

AMC

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AMC Entertainment Holdings, Inc. (NYSE:AMC) on Monday reported better-than-expected second-quarter results.

Adjusted EPS of 14 cents surpassed the analyst expectations for a loss of six cents per share. The largest cinema chain operator’s revenue rose 14.2% year over year (Y/Y) to $1.60 billion, exceeding estimates of $1.47 billion.

AMC plans to expand its premium large format (PLF) and extra-large format (XLF) footprint by adding 100–250 auditoriums over the next 2–4 years, primarily funded through third-party capital.

AMC shares fell 6.9% to trade at $2.28 on Tuesday.

These analysts made changes to their price targets on AMC following earnings announcement.

  • Wedbush analyst Alicia Reese maintained AMC with an Outperform rating and raised the price target from $3 to $4.
  • Benchmark analyst Mike Hickey maintained the stock with a Buy and raised the price target from $2.5 to $3.

Considering buying AMC stock? Here’s what analysts think:

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