Exxon, Chevron & Verizon Downgraded, AMC Gets Strong Start - Video - TheStreet

Exxon, Chevron & Verizon Downgraded, AMC Gets Strong Start

AMC Entertainment (AMC) is getting a strong start but downgrades for Exxon Mobil (XOM), Chevron (CVX) and Verizon (VZ) in Monday's Analysts' Actions.
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AMC Entertainment (AMC) is getting a strong start but downgrades for Exxon Mobil (XOM), Chevron (CVX) and Verizon (VZ) in Monday's Analysts' Actions. Goldman Sachs is now covering AMC Entertainment and starting it with a BUY rating. The firm set a $30 price target for the stock. Goldman likes AMC's investments in premium theaters like recliner seats and enhanced food and beverage. Raymond James is cutting its outlook for big oil. The firm downgraded Exxon to MARKET PERFORM from OUTPERFORM. Raymond James also cut its rating for Chevron to OUTPERFORM from STRONG BUY. Verizon is downgraded at Citi to a NEUTRAL rating from BUY. The price target was also trimmed to $51 from $53. Citi thinks the wireless carrier will have to pay higher than expected price for spectrum and will face more price competition.