AMC Entertainment Holdings (AMC) shares soared Friday as Wedbush Securities upgraded the stock, saying the movie theater chain was “poised to benefit from a more consistent release slate over the next several quarters.”
AMC’s shares were recently up about 10%. Wedbush analysts upgraded them to “outperform” from “neutral,” writing that it “is positioned to gain market share in 2025 and 2026 with the most premium screens in North America and expansion plans” in Europe and the UK.
The analysts also said that AMC, for years considered a “meme stock,” has repaid or postponed all of its debt due next year, “relieving near-term uncertainty,” and is completing what it expects to be its last major share issuance for a while, “putting a significant headwind behind it.”
The stock remains about 17% lower this year, despite Friday’s surge. Wedbush’s new price target, $4, represents a 33% premium to Thursday’s close.
AMC is lightly covered on Wall Street. Still, before today, Visible Alpha tracked no “buy” or equivalent ratings on the shares.
