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Topeka Capital Downgrades AMC Networks (AMCX) to Hold

June 23, 2015 7:48 AM EDT
Get Alerts AMCX Hot Sheet
Price: $12.13 -1.3%

Rating Summary:
    11 Buy, 13 Hold, 7 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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Topeka Capital downgraded AMC Networks (NASDAQ: AMCX) from Buy to Hold with a price target of $85. The downgrade follows outperformance.

"We're cutting AMCX from Buy to Hold for the simple reason that the stock has performed in line with our Buy rating - up 28.6% just this year alone (the S&P 500 is up 3.1% thus far in 2015), and up 27.3% since initiating coverage on February 3, 2014, accentuating how unloved the name was virtually all of last year, and likewise, how dramatically that sentiment has shifted," said analyst David Miller. "With AMCX now sitting a mere 3.6% away from our target, we cannot in good conscience maintain our highest rating, and so hence the ratings change this morning."

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 $82.02 yesterday.



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