UPDATE: Albert Fried Upgrades AMC Networks to Overweight, Raises PT

In a report published Friday, Albert Fried upgraded its rating on AMC Networks

from Underweight to Overweight, and raised its price target from $43.00 to $80.00. Albert Fried noted, “AMC Network's large affiliate base and strong advertising revenue growth are attractive, in our view. However, we think near term concerns about DISH subs create down side risk. In the long-term, we think the quality of AMCX's programming will amplify top-line growth as well as content expenses in 2013E as AMCX needs to invest in new programming to replace a fast maturing Sunday Night serial programming schedule with few syndicate market options.” AMC Networks closed on Thursday at $57.67.