Citi Keeps $2 Target On AMC Entertainment, Says Shares Overvalued
Source: Unsplash
Citi analyst Jason Bazinet keeps a Sell rating on AMC Entertainment (AMC) with a $2 price target after updating his model to reflect the company's Q4 results.
The stock closed Monday up 26% to $14.04. On the earnings call, management highlighted its recent domestic theater openings along with its capital-raising efforts, which AMC believes have provided the company with enough liquidity to last through 2021, Bazinet tells investors in a research note.
The analyst, however, believes AMC "remains overvalued at prevailing levels."
Disclaimer: TheFly's news is intended for informational purposes only and does not claim to be actionable for investment decisions. Read more at more