Nomura Securities Maintains a 'Buy' on Cablevision (CVC); Q3 Review
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Price: $34.87 --0%
Rating Summary:
7 Buy, 18 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
7 Buy, 18 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Nomura Securities maintains a 'Buy' on Cablevision (NYSE: CVC) price target lowered from $35 to $30.
Nomura analyst, Mike McCormack, said, "The sole bright spots in Cablevision’s 3Q results were better-than-expected subscribers and, to a lesser extent, growth in the Bresnan properties. In this note, we dig further into the trends other than the subscriber performance. Currently, CVC shares trade at 7x 2012 FCF, relative to peers; this is a 30% discount. Longer term, we expect the discount to narrow, creating one of the most attractive opportunities in Cable. With a difficult expense profile, the near-term valuation range should remain static."
For more ratings news on Cablevision click here and for the rating history of Cablevision click here.
Shares of Cablevision closed at $15.14 yesterday.
Nomura analyst, Mike McCormack, said, "The sole bright spots in Cablevision’s 3Q results were better-than-expected subscribers and, to a lesser extent, growth in the Bresnan properties. In this note, we dig further into the trends other than the subscriber performance. Currently, CVC shares trade at 7x 2012 FCF, relative to peers; this is a 30% discount. Longer term, we expect the discount to narrow, creating one of the most attractive opportunities in Cable. With a difficult expense profile, the near-term valuation range should remain static."
For more ratings news on Cablevision click here and for the rating history of Cablevision click here.
Shares of Cablevision closed at $15.14 yesterday.
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