AMC Entertainment (AMC) Received its Third Buy in a Row

After Wedbush and Barrington gave AMC Entertainment (NYSE: AMC) a Buy rating last month, the company received another Buy, this time from B.Riley FBR. Analyst Eric Wold reiterated a Buy rating on AMC Entertainment today and set a price target of $22. The company’s shares closed last Monday at $11.15.

Wold said:

“Last week, we hosted a two-day NDR with the management of AMC Entertainment Holdings (AMC) that included Adam Aron (CEO), Craig Ramsey (CFO), and John Merriwether (VP , Investor Relations). Coming away from the meetings, we are increasingly 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 ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -9.5% and a 28.9% success rate. Wold covers the Services sector, focusing on stocks such as Cinemark Holdings Inc, National Cinemedia, and Red Lion Hotels.

AMC Entertainment has an analyst consensus of Moderate Buy, with a price target consensus of $16.36, a 49.4% upside from current levels. In a report issued on August 8, Wedbush also upgraded the stock to Buy with a $16 price target.

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The company has a one-year high of $20.70 and a one-year low of $8.73. Currently, AMC Entertainment has an average volume of 2.74M.

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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.