UPDATE: Stifel Nicolaus Raises PT to $58 on AMC Networks on Core Business Strength

Stifel Nicolaus reiterated its Buy rating on AMC Networks (NASDAQ: AMCX) and increased its price target from $48 to $58.

Stifel Nicolaus noted, “We are raising our target price on AMC Networks to $58 (from $48) on stronger than expected results as the company continues to increase its monetization of ratings while the core affiliate revenues excluding SVOD were stronger than expected. This sets the stage for a strong 4Q12 as the company regains DISH carriage and has its strongest show of the year airing. Our current target price does not incorporate any contribution from the DISH settlement as the terms to AMC Networks are not yet clear but clearly the company will gain some economics from the settlement."

AMC Networks closed at $52.57 on Thursday.

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