Jefferies Downgrades Cablevision (CVC) to Hold

Jefferies downgraded Cablevision (NYSE: CVC) from Buy to Hold with a price target of $24.00, saying M&A is required to continue the run which is uncertain.

Analyst Mike McCormack commented, "While we continue to believe Cablevision is well positioned to be a part of the consolidating cable industry, fundamental valuation dictates caution, with the stock reflecting some degree of M&A optimism. We believe that the shares could be worth as much as $33 should a transaction occur, but see uncertainty around timing and the Dolan's family willingness to sell. As such, we downgrade the shares to Hold, and maintain our $24 price target."

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 $27.30 yesterday.

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