MKM Partners analyst Eric Handler nudged his price target on AMC Entertainment lower to $16 from $17 and kept his Neutral rating, saying the soft 2019 start from weaker than anticipated box office has added pressure on the summer to show improvement. The analyst is also lowering his Q1 and FY19 EPS outlook to (76c) from (44c) and to (66c) from (34c) respectively - levels that are at or near the lows for the Street and well below consensus. Handler expects the management of AMC Entertainment to provide more clarity about the incremental profit potential of its A-List subscription service at the investor event next week.
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