AMC Stock Price: AMC Entertainment climbs for a second straight day despite analyst downgrade
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UNLOCK OFFER- NYSE:AMC gained 5.45% during Friday’s trading session.
- Wedbush has reiterated its Underperform rating and lowered its price target.
- Doctor Strange 2 looks to dominate box offices again as global revenue crosses $550 million.
NYSE:AMC had two consecutive green days to close the week and even experienced a mini squeeze during Thursday’s session. It says a lot about the stock that even after all of that, shares are still down by 13.35% for the week. On Friday, shares of AMC added 5.45% and closed the trading week at $11.81. AMC’s spike was due to a broader market rally that saw all three major averages close the session well higher. The Dow Jones snapped its recent six-day skid and added 466 basis points, the S&P 500 gained 2.39%, and the NASDAQ led the way higher, rising by 3.82% during the session.
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Even as AMC’s stock rose for a second straight day, Wall Street analysts remain bearish on the long-term forecast of the stock. Wedbush analyst Alicia Reese wasn’t too impressed with AMC’s earnings report earlier this week. Reese cited ongoing volatility and unstable plans like AMC’s own cryptocurrency launch, as headwinds for the next twelve months. Reese reiterated her Underperform rating for the stock and slashed her price target from $5.00 to $4.00 per share. According to TipRanks, AMC has two analysts with a hold rating, three with a sell rating, and a median price target of $7.67.
AMC stock forecast
This weekend’s box office looks to be dominated by Doctor Strange in the Multiverse of Madness once again. The latest Marvel Universe blockbuster has already crossed the threshold of $550 million in global sales. Its $186 million debut weekend was the largest in 2022 so far, and the second largest in the pandemic era behind only Spider Man: No Way Home.
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- NYSE:AMC gained 5.45% during Friday’s trading session.
- Wedbush has reiterated its Underperform rating and lowered its price target.
- Doctor Strange 2 looks to dominate box offices again as global revenue crosses $550 million.
NYSE:AMC had two consecutive green days to close the week and even experienced a mini squeeze during Thursday’s session. It says a lot about the stock that even after all of that, shares are still down by 13.35% for the week. On Friday, shares of AMC added 5.45% and closed the trading week at $11.81. AMC’s spike was due to a broader market rally that saw all three major averages close the session well higher. The Dow Jones snapped its recent six-day skid and added 466 basis points, the S&P 500 gained 2.39%, and the NASDAQ led the way higher, rising by 3.82% during the session.
Stay up to speed with hot stocks' news!
Even as AMC’s stock rose for a second straight day, Wall Street analysts remain bearish on the long-term forecast of the stock. Wedbush analyst Alicia Reese wasn’t too impressed with AMC’s earnings report earlier this week. Reese cited ongoing volatility and unstable plans like AMC’s own cryptocurrency launch, as headwinds for the next twelve months. Reese reiterated her Underperform rating for the stock and slashed her price target from $5.00 to $4.00 per share. According to TipRanks, AMC has two analysts with a hold rating, three with a sell rating, and a median price target of $7.67.
AMC stock forecast
This weekend’s box office looks to be dominated by Doctor Strange in the Multiverse of Madness once again. The latest Marvel Universe blockbuster has already crossed the threshold of $550 million in global sales. Its $186 million debut weekend was the largest in 2022 so far, and the second largest in the pandemic era behind only Spider Man: No Way Home.
Like this article? Help us with some feedback by answering this survey:
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