AMC Entertainment (AMC) PT Raised to $5.10 at Citi, Remains Sell Rated, 'We suspect AMC will take advantage of its current share price to lower its debt balance'

Citi analyst Jason Bazinet raised the price target on AMC Entertainment (NYSE: AMC) to $5.10 (from $5.00) while maintaining a Sell rating.

The analyst comments "Along with our updated estimates, we are adjusting our target price to account for the AMC’s improved financial flexibility. We now assume AMC takes advantage of its current equity valuation by issuing incremental APE shares to reduce debt. As a result, our target price moves up modestly from $5.00 to $5.10. We maintain our Sell rating, as shares still appear overvalued at current levels."

You May Also Be Interested In

• New Street Research Upgrades Micron Technology (MU) to Buy
• Tata Motors Passenger Vehicles (TMPV:IN) PT Raised to INR375 at ICICI Securities
• Indigo Paints (INDIGOPN:IN) PT Raised to INR1,300 at ICICI Securities