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Fly News Breaks for September 14, 2018
AMC
Sep 14, 2018 | 14:30 EDT
As previously reported, MKM Partners analyst Eric Handler downgraded AMC Entertainment to Neutral from Buy, stating that he believes the increase in the company's already above average net leverage and eventual 6% share dilution from Silver Lake's $600M strategic investment is a cause for concern. It is also hard to argue for the stock's multiple to rise when free cash flow, after dividend payments, is negative or only slightly positive, added Handler. He maintains a $21 fair value estimate on the stock.
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