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Fly News Breaks for July 18, 2017
AMC
Jul 18, 2017 | 07:23 EDT
Loop Capital analyst David Miller attributes yesterday's 10% pullback in shares of AMC Entertainment to the Journal's report that Chinese regulators have put pressure on banks to stop lending to majority-owner Dalian Wanda over its foreign investments. The sharp decline implies the market fears Wanda might be forced to sell AMC shares in the open market in order to appease its lenders, he said, but Miller feels any forced selling would "seem to be a last resort." The analyst keeps a Buy rating and $39 price target on AMC Entertainment shares.
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