The post Wall Street predicts AMC stock price for next 12 months appeared on BitcoinEthereumNews.com.

After an exciting few days for AMC Entertainment (NYSE: AMC) stock, the shares of the largest movie theater chain the world have started to lose their momentum, and Wall Street experts have retained their relatively pessimistic view of the outlook for AMC stocks in the next 12 months. Specifically, AMC shares have recently recorded massively high trading activity, in which retail traders started buying them en masse, pushing the price up and helping the company raise $250 million in new equity capital through the sale of 72.5 million shares of its ‘at-the-market’ offering launched on March 28. AMC stock price prediction However, a group of seven Wall Street experts who have sheir their predictions of the future performance of AMC stocks during the last three months remain unconvinced, three of them rating it as a ‘sell,’ and four recommending a ‘hold,’ with no votes for a ‘buy,’ as per TipRanks data retrieved on May 20. 12-month AMC stock price prediction. Source: TipRanks At the same time, they have also offered their AMC stock price targets for the following 12 months, suggesting an average price of $4.86, which would indicate an 8.24% gain from its current price, with the lowest price set at $3.20 (-28.73%) and the highest standing at $8.00 (+78.17%). Among the more bullish analysts are those at B. Riley, who have assigned the AMC shares a ‘neutral’ rating and set a price target of $8. According to them, the cinema chain’s recent announcement of successful debt reduction transitions could improve AMC’s standing with debt holders. On the other hand, Wedbush has reduced its price target on AMC stock from $4 to $3.50 while maintaining a ‘neutral’ rating from August 2023, when it raised its score on AMC’s shares from ‘underperform,’ underscoring the investment firm’s view of AMC’s underlying…

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Filed under: News - @ May 20, 2024 1:30 pm