Nomura Securities Reiterates a 'Buy' on Cablevision (CVC); Review of 1Q Earnings

Nomura Securities reiterates a 'Buy' on Cablevision (NYSE: CVC).

Nomura analyst, Mike McCormack, said, "While results were not as clean as we had expected, the net result does not derail the underlying thesis for increased capital returns and value creation through the Rainbow spin. We have adjusted our FCF/share estimates ~3% lower, to reflect 5% lower EBITDA, offset by 18% lower capex, as well as the benefit from faster share repurchases. Our price target is unchanged given the small change in estimates. We favor investment in Cablevision and reiterate our Buy rating."

For more ratings news on Cablevision click here and for the rating history of Cablevision click here.

Shares of Cablevision closed at $33.91 yesterday.

---

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

---

You May Also Be Interested In

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• Zeo Energy Corp (ZEO) Misses Q2 EPS by 7c
• Reading (RDI) Tops Q2 EPS by 4c