AMC Networks price target raised to $5 from $4 at Wells Fargo

Wells Fargo raised the firm’s price target on AMC Networks (AMCX) to $5 from $4 and keeps an Underweight rating on the shares. The Q2 report came in as expected with AMC doing an “impressive job of managing a steeply declining business,” the analyst tells investors in a research note. Wells believes the stock remain pressured without value a break-up and sale of the company’s intellectual property.