Gabelli upgraded AMC Networks (NASDAQ: AMCX) from Hold to Buy.

Analyst Brett Harriss comments "AMC remains an excellent company with opportunities to leverage its recent programming momentum into increased advertising and affiliate fees. At 6.9x EBITDA, we believe there to be a sufficient margin of safety to justify adding to a position at current prices."

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Shares of AMC Networks closed at $57.51 yesterday.