Stifel Nicolaus analyst Benjamin Mogil boosted his price target on Buy-rated AMC Entertainment (NYSE: AMC) to $26.00 (from $24.00) following strong Q1 results.

Mogil commented "We are raising our target price on AMC reflecting stronger earnings and continued strength in their re-seating programs both in terms of generating strong attendance and pricing gains. We are raising our estimates for this year and next on these results and commentary. More importantly, previously we had discounted AMC's valuation reflecting reinvestment risk, but now find that discount to be unwarranted. "

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Shares of AMC Entertainment closed at $22.48 yesterday.