Macquarie lowered the firm’s price target on AMC Entertainment to $4 from $5 and keeps an Underperform rating on the shares post the Q4 report. Movies’ from Taylor Swift and Beyonce drove market share gains in Q4, while spend per patron hit records in the quarter, the analyst tells investors in a research note. Unfortunately, the outlook for 2024 “has questions again” following the Hollywood strikes and slower post-pandemic core demand, says the firm. It reduced estimates to reflect current lower box office trends.
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