AMC Entertainment Stock: Next Stop: $2?
Most Wall Street pros are still skeptical of the recent rally in shares of AMC Entertainment Holdings (NYSE: AMC). Jason Bazinet at Citi (NYSE: C) put out an updated note on the country's largest multiplex operator on Tuesday, sticking to his sell rating and $2 price target.
There's clearly a disconnect between analysts and AMC's buoyant stock chart. Bazinet at $2 seems low, but he's not even at the bottom of the range among notable market mavens. Eric Handler at MKM Partners put out a $1 price target last month, and Rich Greenfield at LightShed Partners turned heads last week with his call that the stock is heading to $0.01.
The pessimism is thick, but reality is painting a different portrait. The stock has soared 74% over the past six trading days after several bullish developments, closing above $14 on Monday. The highest of the seven leading analyst firms with a price goal for the stock is currently at $7 for AMC Entertainment. In other words, even the most upbeat of Wall Street pros sees the stock shedding more than half its value in the near future.
Source Fool.com
