By Jill Goldsmith Exhibitors led entertanment shares Monday, popping higher in a mixed market as an analyst removed a ‘sell’ rating on AMC Entertainment.
Imax led the group, up 8% in late moring trade. AMC had gained more than 5%. National Cinemedia, which sells in-theater advertising, is seeing gains of more than 4%.
and Cinemark’s changing hands up 1.3%. The Dow Jones Industrail Average, meanwhile, has pared its earlier losses but is still in negative territory.
In a mornign note, B. Riley FBR analyst Eric Wold upgraded AMC Entertainment to ‘neural’ from ‘sell’ saying he’s increasingly confident the world’s biggest theater chain can avoid bankruptcy during the coronavirus shutdown.
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