Morgan Stanley lowered the firm’s price target on AMC Networks (AMCX) to $5.50 from $6 and keeps an Underweight rating on the shares. Q1 revenue and EBITDA came in below expectations, notes the analyst, whose view remains at the low end of reiterated FY25 guidance on macro risks to advertising. The firm trimmed its FY26 and FY27 estimates as revenue headwinds persist, the analyst added.
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