Nomura Securities Lowering PT and 2012/13 Estimates on Cablevision (CVC); Waiting for Stronger Pricing Power

May 4, 2012 11:44 AM EDT Send to a Friend
Get Alerts CVC Hot Sheet
Price: $20.32 +0.59%

Rating Summary:
    8 Buy, 15 Hold, 5 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 3 | Down: 17 | New: 2
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Nomura Securities maintains a 'Buy' on Cablevision (NYSE: CVC) price target lowered from $23 to $18.

Analyst, Mike McCormack, said, "We think investors will need to see clear evidence of pricing power before revisiting the CVC story. We have revised our 2012 and 2013 fully taxed FCF/share estimates to $1.15 and $1.50 from $1.60 and $1.97 previously, and lowered our price target. We have maintained our Buy rating, as we believe we are cycling through trough estimates with a peer-like valuation. We believe that patient investors will be rewarded should free cash flow can recover."

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

Shares of Cablevision closed at $13.54 yesterday.


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