UPDATE: Stifel Upgrades AMC Networks (AMCX) to Buy

Stifel upgraded AMC Networks (NASDAQ: AMCX) from Hold to Buy with a price target of $70.00 (from $65).

Analyst Benjamin Mogil commented, "Following the 4Q16 earnings call, we are upgrading AMC Networks from a Hold to a Buy and establishing a target price of $70. The upgrade comes after better than expected advertising in the quarter despite materially down Walking Dead ratings indicating considerable ad monetization outside of that window and the continued attractiveness of the show in a fragmented market. We raise our estimates and view guidance as conservative. We are Buy rated."

For an analyst ratings summary and ratings history on AMC Networks click here. For more ratings news on AMC Networks click here.

Shares of AMC Networks closed at $59.84 yesterday.

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