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Update: Wedbush Raises Price Target on AMC Entertainment to $4 From $3 After 'Great' Q2, Keeps Outperform Rating

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(Updated to include Wedbush commentary)

Wedbush raised its price target on AMC Entertainment (AMC) to $4 from $3 following Q2 earnings, driven by strong attendance across its domestic and European footprint, market share gains, and notable leverage.

There's upside remaining for the company as it is positioned to gain market share in the second half of the year, with the most premium and large format screens in North America and expansion plans in UK/EU, as well as more consistent release slate over the next several quarters, analysts led by Alicia Reese wrote in a Tuesday note.

AMC Entertainment has an average rating of overweight and mean price target of $2.44, according to analysts polled by FactSet.

(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

Price: $2.27, Change: $-0.19, Percent Change: -7.72%

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Update: Wedbush Raises Price Target on AMC Entertainment to $4 From $3 After 'Great' Q2, Keeps Outperform Rating | FINWIRES