Adam Aron, AMC Leisure president and CEO.
David Orrell | CNBC
Analysis agency Wedbush raised its 12-month worth goal on shares of AMC Entertainment on Friday…by $1.
As AMC shares almost doubled this week to $51 driving a wave of enthusiasm from Reddit posters, Wedbush took its worth goal to $7.50 from $6.50. That will nonetheless entail an 85% plunge.
“AMC has made the very best of its present ‘Meme Inventory’ standing by promoting shares at a premium, and has raised important capital doing so,” Wedbush analyst Alicia Reese mentioned in a observe.
“Ought to AMC use its present money steadiness to meaningfully cut back its debt and create earnings development alternatives, we may envision a justified worth goal as excessive as $10,” Reese mentioned.