Stifel Maintains Bullish View on AMC Networks (AMCX) Following Results; Says Affiliate and Advertising Remain On Track
Stifel analyst Benjamin Mogil reiterated his Buy rating and $89 on AMC Networks (NASDAQ: AMCX) following Q2 results this morning. Shares are down nearly 10% following the print.
"We remain Buy rated with an unchanged target price following AMC's 2Q15 earnings," Mogil said. "While advertising was a little weaker than expected from both the legacy channels and BBC America, commentary on 3Q15 pacings should ease those concerns. Affiliate growth continues to be very healthy and the stronger than expected licensing contribution was structural and not timing related."
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Shares of AMC Networks closed at $78.51 yesterday.