Wedbush Just Raised Its Price Target on AMC Entertainment (AMC) Stock

Shares of AMC Entertainment (NYSE:AMC) stock are in the red about 3% after Wedbush raised its price target to $4 from $3.50. Yesterday, the movie theater chain announced a refinancing transaction that would extend the maturity of up to $2.45 billion of debt from 2026 to 2029 and later.This transaction will open up the opportunity to reduce debt by $464 million from the conversion of exchangeable notes into equity. That has dilutive effects on shareholders and is likely why AMC stock is down today.“Previousl ...