AMC Entertainment (NYSE:AMC) has been rangebound as of late, but don’t assume that AMC stock is just sitting tight for the next wave of speculative frenzy about meme stocks. Sure, anything’s possible, including another social media blitz by famed meme trader Keith “Roaring Kitty” Gill.

However, instead of hoping for “meme mania” to send shares surging, you may want to review and take heed of the Wall Street analyst community’s current take on the movie theater operator’s shares.

Sell-side analysts don’t always make the right call. Yet in this situation, there may be far greater credence to their view. Namely, because it’s based on fundamental analysis, not on handicapping the chances of another meme wave.

So, what is the sell-side saying about AMC? What’s their 12-month price target for shares? Let’s dive in, and find out.

AMC Stock Analyst Consensus

According to MarketBeat, 5 Wall Street analysts currently cover AMC Entertainment. Three of these analysts covering AMC give it the equivalent to a “sell” rating. The other two analysts give shares the equivalent to a “hold” rating.

It’s not surprising that there is not a single sell-side analyst out there with an outstanding bullish rating on AMC stock.

Wall Street analysts have by-and-large been hesitant to rate meme stocks highly, even during the height of the trend back in 2021. However, there’s more to it than simply the “smart money” holding a negative bias toward meme stocks.

Take a look at AMC’s fundamentals, and it’s hard to see how this company can sustain, much add to, its current valuation. As I have pointed out previously, AMC is unprofitable and debt-laden.

With the movie theater’s sluggish post-COVID recovery, there’s high uncertainty over the degree in which AMC’s operating results will improve.

Even if you’re bullish on a box office comeback, Cinemark Holdings (NYSE:CNK) is much better opportunity.

Besides being profitable, and trading at a reasonable 16.8 times forward earnings, Cinemark isn’t at risk of further shareholder dilution, as is the case with AMC Entertainment.

The Sell Side’s 2025 Price Prediction

After discussing AMC analyst ratings, let’s go to the next question. What is the sell side’s 2025 AMC stock price prediction? Although sell-side ratings lean toward “sell,” admittedly Wall Street’s 12-month price targets range widely.

Currently, price targets on AMC Entertainment range from a low $3.20 per share, to a high of $8 per share.

On average, the analyst consensus price forecast for AMC comes in at around $5.54 per share, or around 15% above current prices. Still, before reading this as a sign that there’s upside ahead for shares, consider the following.

This average price target is skewed by $8 per share price targets set by Credit Suisse last September, and by B. Riley last February. Although B. Riley has reiterated its price target recently, their bull case hinges highly on AMC’s operating performance soon returning to pre-pandemic levels.

In contrast, Citi’s Jason Bazinet, the analyst behind the $3.20 per share price target for AMC, didn’t factor-in possibilities as near-certainties as strongly.

Rather, the analyst factored current results, dilution trends, and historic valuation more heavily when calculating his price target. With this in mind, you may want to lean more toward this conservative price forecast.

Bottom Line: Absent Another Meme Wave, Risk/Return May Not be Worthwhile

Without another meme wave for AMC, fundamentals and company-specific developments will drive future share price performance, suggesting the risk/return may not be worth it.

At best, based on B. Riley’s analysis, AMC could experience a slow and steady further recovery contingent on stronger movie attendance than industry forecasts suggest. At worst, based on Citi’s forecast, key negatives with the stock will continue to drive AMC to lower prices.

Given how much the lower end of forecasts are based on current performance, erring on the side of caution, and assuming $3.20 per share is the most likely 12-month price target, may be the best move.

Wait for AMC stock to fall toward this target before considering it a possible buy.

On the date of publication, Thomas Niel did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.