Goldman Sachs Downgrades Cablevision (CVC) to Sell

Goldman Sachs downgraded Cablevision (NYSE: CVC) from Neutral to Sell with a price target of $11.00 (from $15.00), suggesting 19% downside.

"We believe the current investment cycle runs through next year and long-term capital intensity will not return to prior levels," the analyst said. "In addition, CVC has industry-leading product penetration, but faces the most intense competition. Verizon is the largest threat, and while the company’s FiOS adds have disappointed for the past several quarters, current promotions have returned to prior levels. We believe Verizon returns to 150K+ adds per quarter pacing exiting 4Q12, most directly impacting CVC."

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 $13.65 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Topgolf Callaway Brands (MODG) PT Raised to $13 at TD Cowen
• Plug Power (PLUG) PT Lowered to $3 at Canaccord Genuity
• Gritstone bio (GRTS) PT Lowered to $5 at Jones Trading