A bullish call for Pier 1 (PIR), downgrade for AMC Entertainment (AMC) and initiations for Marathon Oil (MRO) and Hess (HES) all in Thursday’s Analysts’ Actions. AMC Entertainment has been downgraded to a NEUTRAL rating from a BUY at MKM partners. The firm is upping its price target for the stock to $37 from $35 a share. MKM says this is a valuation call and still believes in AMC’s renovation strategy. BMO Capital made additions to their coverage in the energy space, which includes Marathon Oil and Hess. The firm is starting both companies with MARKET PERFORM ratings. BMO says the ‘absolute valuations for the sector are expensive.’ Pier 1 was upgraded at Wedbush to OUTPERFORM from NEUTRAL. The price target was also boosted to $16 from $13.50 a share. The firm thinks the retailer is likely done investing and profit growth is in sight.
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