It's Too Soon to Buy AMC Stock Again
Shares of AMC (NYSE: AMC) soared 31% on Friday, and the good news didn't end with that one-day rally. B. Riley FBR analyst Eric Wold -- one of the more vocal bears on the country's largest movie theater chain -- is kicking off the new trading week by upgrading AMC stock. Wold had a $0.25 price target, but following news late last week of the government's plan to gradually reopen the economy and AMC's own liquidity update, he's feeling less pessimistic about the chain's chances to survive without filing for bankruptcy.
This is the week that the NFL is holding its annual draft of college players, and apparently it's not just the Bengals, Dolphins, and Chargers that will be taking their quarter back. Wold is lifting his price target from $0.25 to $4, and the 16-fold update is accompanied by his upgrading of AMC stock from sell to neutral.
Image source: AMC Entertainment.
Source Fool.com
