Brokerages raise PT on AMC Networks following strong Q4

AMC Global Media

22/02/2023 20:12

** Brokerages raise PT for entertainment company AMC
Networks Inc  AMCX.O  after co beat Q4 profit ests
    ** Wells Fargo raises PT to $15 from $10; maintains
"underweight" rating
    ** "AMCX's strategy is now more clear: focus on
monetization" - Wells Fargo 
    ** Says co is shifting from its broader ambitions to
focusing on rationalizing costs and operating like a
direct-to-consumer retailer with its streaming business
    ** Cowen also raises PT to $27 from $22; maintains "market
perform" rating
    ** AMCX on Friday reported an adj. EPS of $2.52 vs Wall St
ests of $1.20 - Refinitiv IBES 
    ** Stock up ~52% YTD 
 (Reporting by Anirban Chakroborti in Bengaluru)
 ((Anirban.Chakroborti@thomsonreuters.com;))