MKM Partners analyst Eric Handler upgraded the stock of AMC Theatres from 'sell' to 'neutral,' arguing that 'near-term bankruptcy risk appears to have subsided.' More details:
MKM Partners moves from"sell" to"neutral," saying cinemas in the U.S. and Europe are likely to"re-open with new Hollywood content in the July/August time frame," but remains"concerned with AMC's overall debt load."
MKM Partners analyst Eric Handler on Wednesday upgraded the stock of exhibition giant AMC Theatres from "sell" to "neutral," arguing that "near-term bankruptcy risk appears to have subsided."Handler said that risk has lessened "considerably" as a result of the "increasing likelihood movie theaters in the U.S. and Europe will be able to re-open with new Hollywood content in the July/August time frame and the company's improved liquidity position.
The analyst also emphasized: "We are still concerned about AMC's net leverage and absolute level of debt, but believe with the expected re-opening of the company's circuit within the next two months there is sufficient cash on hand to get through the end of the year."
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