What may stand out is that shares just hit a post-IPO high of $21.61 last Friday, a day that was not exactly positive for the markets. Shares closed at $21.37, and the post-IPO range has been $18.81 to $21.61. Its formal IPO price was $18 back on December 18, 2013.
AMC was started as a Buy at Citigroup. Credit Suisse started coverage with an Outperform rating and it assigned a $25 price target. AMC Entertainment was started with an Outperform rating and a high price target of $27 at FBR Capital Markets. Stifel Nicolaus started coverage with a Buy rating and $24 price target.
Bank of America Merrill Lynch and the smaller B. Riley both started coverage of AMC Entertainment with much less enthusiastic Neutral ratings.
AMC’s network consists of 357 theaters, encompassing some 5,098 screens, in 31 states and the District of Columbia, and four outside of the United States. Its market cap was $2.02 billion as of Friday’s closing price.
AMC shares were indicated down just over 3% at $20.56 Monday morning, largely because the expected gains appear to have limited upside compared to other key initial public offerings.
Top Gaining Stocks
Top Losing Stocks