It’s no joke, Credit Suisse analysts are now downgrading AMC Entertainment (NYSE:AMC) stock from the grave.
“The New York Stock Exchange notified Credit Suisse on May 1… that it is no longer in compliance with the NYSE’s continued listing minimum price criteria,” Credit Suisse said in a statement end of the month at the time.
“Credit Suisse expects that the deficiency will be cured upon completion of the acquisition by UBS,” which will mean its own shares are exchanged for UBS stock and delisted in New York, the statement said.
“Upon consummation of the acquisition, UBS will be the surviving entity.”
In November of 2022, the bank warned investors in a 6-K filing of potential losses due to naked short covering.
Whatever happened to those positions is unknown.
However, Credit Suisse is no more and analysts continue to haunt the world’s largest movie theatre chain from the grave.
In a recent research note, the equities researchers at Credit Suisse Group revised the target price from $8.38 to $8.00, indicating a potential downside of 37.45% from the company’s current price, reports MarketBeat.
Citigroup, one of AMC’s toxic lenders, reiterated a “sell” rating on shares of AMC Entertainment in a report on Monday, July 3rd.
Below are the latest AMC stock price predictions from various analysts.
Here Is The Latest AMC Stock Price Prediction From Analysts
Here is the latest AMC stock price prediction from analysts for the month of September, 2023 report.
TipRanks reports that 6 Wall Street analysts have offered 12 month price targets for AMC Entertainment (NYSE:AMC) in the last 3 months.
The average price target is $18.50 with a high forecast of $45.00 and a low forecast of $5.00.
The average price target represents a +41.22% increase from last week’s price of $13.10 (Sept.1).
“Next quarter’s sales forecast for AMC is $1.16B with a range of $1.05B to $1.29B. The previous quarter’s sales results were $1.35B.
AMC beat its sales estimates 100.00% of the time in past 12 months, while its overall industry beat sales estimates 62.84% of the time in the same period.
In the last calendar year AMC has Outperformed its overall industry.”
CoinPriceForecast is also reporting an AMC stock price prediction for 2023 and several years ahead.
“According to the latest long-term forecast, AMC price will hit $35 by the end of 2023 and then $40 by the middle of 2024. AMC will rise to $65 within the year of 2025, $95 in 2026, $125 in 2027, $150 in 2028, $250 in 2029 and $300 in 2034,” its stock analysis reports.
In July, Coincodex reported it predicts AMC shares to rise to $400 by 2030, a +9,000% increase from where the movie theatre stock was trading at that time.
Today, Coincodex predicts shares to reach as high as $1,199.80 per share.
“The AMC Entertainment Holdings stock prediction for 2025 is currently $ 47.62, assuming that AMC Entertainment Holdings shares will continue growing at the average yearly rate as they did in the last 10 years.
This would represent a 263.52% increase in the AMC stock price.
In 2030, the AMC Entertainment Holdings stock will reach $ 1,199.80 if it maintains its current 10-year average growth rate.
If this AMC Entertainment Holdings stock prediction for 2030 materializes, AMC stock will grow 9,058.81% from its current price.”
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