Roth MKM says AMC Entertainment ‘moving in the right direction’

Roth MKM says AMC Entertainment (AMC) is moving in the right direction, but more financial engineering needs to be done. Better-than-expected Q4 results, highlighted by over $100M of free cash flow, was a positive step forward for AMC, the firm says. Roth also anticipates further financial improvement in the coming two years, driven by a healthy box office recovery. However, free cash flow is likely to remain negative in 2025 and additional equity raises may be necessary. The firm has a Neutral rating on the shares with a price target of $3.25.