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Box office earnings are down 24% since 2019 and AMC wants to change that.
Shares of AMC Entertainment (AMC 10.50%) are jumping on Friday, up 10.6% to $3.32 as of 2:05 p.m. ET. At that point in the session, the S&P 500 was off by about 0.2% and the Nasdaq Composite was flat.
AMC Entertainment AMC stock surged on Friday after Wedbush analyst Alicia Reese upgraded it from Neutral to Outperform and raised its price forecast from $3 to $4.
Shares of AMC Entertainment Holdings (NYSE:AMC) rose more than 10% on Friday after Wedbush upgraded the movie theater chain to “Outperform” from “Neutral,” citing improving industry fundamentals, strengthened financials, and potential market share gains over the next two years. The brokerage raised its 12-month price target on AMC to $4 from $3, implying a 33% upside from current levels.
AMC Entertainment (NYSE: AMC) shares surged 9% on Friday after it received a vote of confidence from Wedbush. The firm upgraded the stock from “Neutral” to “Outperform” and raised its price target to $4 from $3.
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Wedbush turned bullish on AMC's stock, citing a more consistent movie-release slate over the next several quarters and prospects for market share gains.
In the closing of the recent trading day, AMC Entertainment (AMC) stood at $2.9, denoting a +1.75% move from the preceding trading day.
Movie theater leader AMC Entertainment Holdings AMC is doubling down on a discount movie ticket promotion originally scheduled for Wednesdays. The company will now offer 50% off movie tickets on Tuesdays and Wednesdays for its Stubs loyalty members.
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