Citi Keeps $2 Target On AMC Entertainment, Says Shares Overvalued

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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."

 

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