UPDATE: Goldman Sachs Initiates Coverage on AMC Networks on Moves to Capture More of the Content Value Chain
In a report published Friday, Goldman Sachs analyst Drew Borst initiated coverage on AMC Networks (NASDAQ: AMCX) with a Buy rating and $76.00 price target.
In the report, Goldman Sachs noted, “We initiate coverage on AMC Networks with a Buy rating and a 12-month price target of $76, implying 21% upside. The company is transitioning along two important dimensions. First, AMCX is scaling its scripted original programming and shifting to an ownership model, which will allow AMCX to capture more of the value chain, such as digital licensing. Second, the pending Chellomedia acquisition should meaningfully expand AMCX's international channel business, by adding a large portfolio of channels in Europe and Latin America, which would become another avenue for monetizing AMCX's wholly owned original programming.”
AMC Networks closed on Thursday at $62.84.
Latest Ratings for AMCX
|Nov 2015||Pacific Crest||Maintains||Overweight|
|Sep 2015||Evercore ISI Group||Upgrades||Hold||Buy|
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