- AMC Networks (NASDAQ:AMCX) receives some love via coverage initiation from Piper Jaffray, which calls it "one of the best content plays in the media space" despite pay-TV challenges, and rates the stock Overweight.
- Not only has the show featured a string of popular hits, but it's also set in motion "a rapid shift towards full ownership of its content," Piper notes.
- The network has built a reputation for high-quality (and audience-pleasing) series: Better Call Saul (itself a spinoff of hit Breaking Bad) was the year's top new cable series, and zombie series The Walking Dead continues to dominate competition.
- Speaking of ratings, following those successes, multi-year hit Mad Men has broadcast the second of its series-ending four episodes, and numbers so far have held serve with last year: The midseason premiere drew 3.6M viewers, 1.9M adults 25-54, up 57%.
- Piper Jaffray set a $90 price target; AMC closed today +0.2% at $76.99.