Goldman Sachs Downgrades Cablevision (CVC) to Sell

November 15, 2012 7:13 AM EST Send to a Friend
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Price: $18.51 +1.20%

Rating Summary:
    8 Buy, 15 Hold, 5 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 3 | Down: 4 | New: 7
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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.




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