Nomura Securities Maintains a 'Buy' on Cablevision (CVC); Out Of Favor...Not For Long

June 8, 2012 9:48 AM EDT Send to a Friend
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Price: $20.20 --0%

Rating Summary:
    8 Buy, 15 Hold, 5 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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Nomura Securities maintains a 'Buy' on Cablevision (NYSE: CVC) price target of $18.00.

Analyst, Mike McCormack, said, "CVC shares are out of favor for good reason: the company has missed expectations and the outlook is unclear. However, positive estimate revisions, triggered by modest operational improvements, could offer a favorable risk-reward. We believe FCF has bottomed, and the company will return over 100% FCF in 2012 and 2013. High financial leverage would quickly amplify pricing improvements where a 3-4% price increase could drive 30% upside to our 2013 estimates. Near-term estimates likely need to come down, however with shares valued at 30% discount to peers, a margin of safety is likely factored into expectations. 2012E EPS remains $0.91 vs. Street $0.84."

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 $11.58 yesterday.


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