Imperial Capital analyst David Miller isn't yet ready to follow his Wall Street peers and declare a Chapter 11 bankruptcy filing from AMC Theatres as inevitable.
So he raised the embattled cinema giant's stock price target on Friday ahead of AMC Theatres unveiling first quarter financial results on Tuesday. "Because we continue to think the likelihood of a Chapter 11 filing is still too close to call at this point, and there are so many mixed signals, we are maintaining our In-Line rating, though raising our price target to $4.00 from $3.00," he wrote in an investors note.
AMC earlier this week disclosed that it expects its first-quarter financials, which during the second half of March were hit by the shutdown of its circuit, to include a.