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Fly News Breaks for October 7, 2016
AMCX
Oct 7, 2016 | 08:08 EDT
Loop Capital analyst David Miller estimates AMC Networks' Q3 advertising revenues to be down 4% year-over-year and lowered his EPS forecast to 96c from $1.09, mainly citing "tepid audience deliveries" for "Fear the Walking Dead" and "Feed the Beast," which he notes has already been canceled. The analyst, who continues to view AMC as secularly challenged and with no case for multiple expansion, cut his price target on the stock to $58 from $60 and keeps a Hold rating on the shares.
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