At the movies
AMC Entertainment Holdings knows that it has to take action in the face of increased competition.
In just the last few weeks, Netflix announced plans to extend its reach into original movies. The video-streaming service signed a four-film deal with actor-comedian Adam Sandler and said it will stream a sequel to 2000’s Oscar-winning “Crouching Tiger, Hidden Dragon,” as it opens simultaneously in Imax theaters in August 2015.
AMC is hoping to transform the movie-going experience by replacing seats in many of its theaters with recliners, and offering dine-in theaters that offer seat-side service with the push of a button.
Although analyst Benjamin Mogil of Stifel recently lowered his expectations for AMC’s fourth-quarter box office receipts, he reiterated his “buy” rating and $26 price target.
Investors will gain more insight when AMC reports quarterly results on Oct. 28.Associated Press