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Hargreaves: AMC Isn't A 'Walking Dead' Stock, So Buy It

AMC Networks Inc. NASDAQ:AMCX - Hargreaves: AMC Isn't A 'Walking Dead' Stock, So Buy It

In a report published Friday, Pacific Crest analyst Andy Hargreaves maintained an Overweight rating on AMC Networks Inc AMCX 1.37%, while reducing the price target from $88 to $83, despite the company reporting its 2Q results ahead of expectations.

The company generated better-than-expected distribution revenue, which drove its quarterly revenue to $601 million, beating the Pacific Crest estimate of $593 million and consensus expectation of $590 million. Domestic advertising revenue grew 14 percent y/y, implying low-single-digit...


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