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Fly News Breaks for January 2, 2018
AMCX
Jan 2, 2018 | 08:57 EDT
As previously reported, Macquarie downgraded AMC Networks to Neutral from Outperform and lowered its price target to $60 from $70. Analyst Tim Nollen has a more cautious view on advertising due to changing consumer behaviors and expects pressures to exacerbate from declining ratings of the Walking Dead and Fear franchises. Nollen is forecasting slower 2018 earnings growth, before tax reform, and said lapping sub penetration is a high bar to beat.
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