Android app on Google Play

UPDATE - Barclays Upgrades AMC Networks (AMCX) to Overweight; Overhang from VOOM Lawsuit Provides an Attractive Entry Point

July 12, 2012 3:00 PM EDT Send to a Friend
Get Alerts AMCX Hot Sheet
Price: $61.06 -0.76%

Rating Summary:
    13 Buy, 12 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 13 | Down: 24 | New: 21
Trade AMCX Now!
Join SI Premium – FREE
UPDATE - Barclays upgrades AMC Networks (Nasdaq: AMCX) from Equalweight to Overweight. PT raised from $42 to $48.

Analyst, Anthony DiClemente, said, "Notwithstanding the stock's recent rally, AMCX is still well below its 52-week high of $46.69, due in part to a market pullback but also concerns about a carriage disruption with DISH (Nasdaq: DISH) that became official on July 1st. While we are lowering our 2012 estimates to reflect at least 3 months of lost revenue from DISH, we are raising our 2013 estimates given our more positive outlook for affiliate fee renewals."

DiClemente also believes AMCX is positioned well for a favorable resolution in the VOOM lawsuit, which could rid another overhang. FY12 EPS estimate is lowered from $2.46 to $2.35 (Street consensus is $2.38), FY13 from $3.04 to $3.19 (Street consensus is $2.96).

You May Also Be Interested In

Related Categories

Analyst EPS Change, Analyst EPS View, Analyst PT Change, Upgrades

Related Entities


Add Your Comment