Pali Research Downgrades Mediacom Communications (MCCC) to Neutral
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Pali Research downgrades Mediacom Communications Corp. (Nasdaq: MCCC) from Buy to Neutral and removes their $8.50 price target.
The firm cited: growth expectations have increased, Echostar increasing its marketing spending, programming cost rising, weak local advertising results. The firm said, while Mediacom Comm may beat their EBITDA estimates for 2008, they believe these factors limit the extend of the upside.
Mediacom Communications Corporation, through its subsidiaries, develops cable systems to provide entertainment, information, and telecommunications services in the United States.
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