Macquarie Doesn’t See Cablevision (CVC) Going Private, Cuts Price Target to $19

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Macquarie reduced its price target on shares of Cablevision (NYSE: CVC) from $23 to $19 Tuesday. The firm calls the chance of going-private deal "highly unlikely."

Macquarie's Amy Young believes it will be difficult to complete a deal of that magnitude given the current yield and conditions in the leveraged loan market.

Young feels CVC may look to buybacks or strategic mergers and acquisitions to increase the value of shares.

The analyst recommends shares of Charter (Nasdaq: CHTR) over shares of Cablevision.

Macquarie reaffirmed its Neutral rating on shares of Cablevision.

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