AMC Entertainment (AMC) PT Lowered to $8 at B.Riley, 'remain confident in a sharp box office rebound in 2025'

B.Riley analyst Eric Wold lowered the price target on AMC Entertainment (NYSE: AMC) to $8.00 (from $12.00) while maintaining a Neutral rating.

The analyst commented: "After the close on Wednesday, 2/28, AMC Entertainment Holdings, Inc.reported 4Q23 results that came in above expectations on the heels of an attendance and spending boost driven by the two concert films distributed by AMC in the quarter. While we acknowledge that strike-driven film slate shifts will create some headwinds in 2024, we remain confident in a sharp box office rebound in 2025 and AMC's ability to over-index on both attendance growth and patron monetization. Although we are lowering our estimates and PT from $12 to $8, we could see management successfully address the company's upcoming debt maturities later this year and help to alleviate the recent pressure on the shares. We maintain our Neutral rating."

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