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UPDATE: ISI Group Initiates Coverage on AMC Networks on Significant Long-Term Growth Potential

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In a report published Wednesday, ISI Group analyst Vijay Jayant initiated coverage on AMC Networks (NASDAQ: AMCX) with a Buy rating and $72.00 price target.

In the report, ISI Group noted, “We are initiating coverage of AMC Networks (AMCX) shares with a Buy rating and a $72 price target for year-end 2014. AMC Networks is a relatively small pure-play on the dual-revenue cable network business model; it owns the AMC, We, IFC, and Sundance cable networks. The latter two have little advertising revenue at this point with Sundance finally migrating to an advertising (as opposed to sponsorship) model in 4Q13, and management is programming more originals on those networks, so there is significant long-term growth to come as these platforms grow.”

AMC Networks closed on Tuesday at $63.51.

Latest Ratings for AMCX

DateFirmActionFromTo
Apr 2016MacquarieUpgradesNeutralOutperform
Apr 2016JefferiesInitiates Coverage onHold
Nov 2015Pacific CrestMaintainsOverweight

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View the Latest Analyst Ratings

Posted-In: ISI Group Vijay JayantAnalyst Color Initiation Analyst Ratings

 

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