‘Walking Dead’ Boosting AMC Value (AMCX)
AMC Networks Inc. (NASDAQ: AMCX) cannot produce ‘The Walking Dead’ fast enough. A report from Gabelli & Co. this morning is reiterating its “Buy” rating on AMC Networks in part due to the zombie apocalypse series. The new show that came out…
AMC Networks Inc. (NASDAQ: AMCX) cannot produce ‘The Walking Dead’ fast enough. A report from Gabelli & Co. this morning is reiterating its “Buy” rating on AMC Networks in part due to the zombie apocalypse series. The new show that came out on Sunday night came to 8.1 million viewers, and combined with a late-night re-run that was 10 million viewers. This was said to be a record for cable and up 12% from the debut of the second series. Gabelli & Co. noted, “Hit shows like Modern Family typically get 6 to 7 million.”
But wait, there is more… Gabelli says that AMC has a great content slate coming up in 2012 which includes five scripted originals versus four that were out in 2011.
The firm reiterated its Buy recommendation and assigned a private market value of $58.00 per share. Keep in mind that AMC’s $58.00 level is not a formal price target. At $42.64, the 52-week range is $29.66 to $44.34 and the Thomson Reuters consensus price target is $40.79.
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Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.
