Albert Fried & Company maintained an Overweight rating on AMC Networks (NASDAQ: AMCX) with a price target of $97. Analyst Rich Tullo called today's decline "market dislocation." He also thinks the company is an increasingly attractive takeover target at these levels.

"We are amazed as we talk to some managers that thought AMC was an acquisition target at $75 but now think AMC won’t be acquired? Our view is today’s share drop is disconnected with the reality of the earnings report which as strong on virtually all measures," said Tullo.

Tullo listed a number of potential strategic industry partners, including VIACOM (NASDAQ: VIAB), CBS (NYSE: CBS), Netflix, Inc. (NASDAQ: NFLX) and Walt Disney (NYSE: DIS).

• "Viacom (VIAB, NC) – Viacom has limited exposure in basic tier Original Content Cable TV and AMCx’s millennial facing programming on IFC and AMC may benefit from VIA’s MTV franchises.
• CBS (NC) – CBS has limited exposure to Cable TV and has nibbled around the edges by making an investment with Mark Cuban but AMC works at CBS’s scale. We think the programming and syndication synergies between CBS and AMAX are strong especially as leverage can be applied to MVPD’s as well as now streaming content buyers. If CBS buys AMC CBS can leverage shows like Under the Dome as well as the Walking Dead in the growing streaming window. We also think CBS can capture international synergies via Chello Media.
• Netflix (NC)- We have long argued Netflix benefits from AMCX’s strong FCF capacity and Original Content library and pipeline.
• Disney (NC)- While ABC is a stronger broadcast network but its content is limits ABC’s ability to target High Net Worth and Millennial Demographics. The Disney Channels are doing well but we think there are synergies between Disney Studios and key AMC franchises such as the Walking Dead," said Tullo.

For an analyst ratings summary and ratings history on AMC Networks click here. For more ratings news on AMC Networks click here.

Shares of AMC Networks closed at $65.52 yesterday.