AMC Networks price target lowered to $9 from $10 at Morgan Stanley

Morgan Stanley analyst Thomas Yeh lowered the firm’s price target on AMC Networks (AMCX) to $9 from $10 and keeps an Underweight rating on the shares. Integrating streaming into linear distribution deals could help partially mitigate ongoing resets in affiliate fee pricing, but AMC’s pricing power remains challenged given its smaller scale, the analyst tells investors.