Barclays analyst Kannan Venkateshwar downgraded AMC Entertainment to Equal Weight and lowered his price target for the shares to $25 from $31. The analyst sees increased risk after China indicated over the weekend that the government has blocked banks from funding AMC's parent, Chinese real estate conglomerate Dalian Wanda. This removes the likelihood of a backstop from the parent, which in the context of AMC's five-times leverage is important to consider, the analyst contends.
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Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1... To see the rest of the story go to thefly.com. See Story Here
Check out this morning's top movers from around Wall Street, compiled by The Fly. UP AFTER EARNINGS... To see the rest of the story go to thefly.com. See Story Here