Nomura Securities Maintains a 'Buy' on Cablevision (CVC); Q4 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 of $23.00.
Analyst, Mike McCormack, said, "Following what was otherwise a good 4Q, we think that Cablevision has set a low bar for 2012. However, given a full year of disappointing quarters we do not expect investors to believe until consistency can be restored. We had been braced for $2.2bn of EBITDA in 2012, however, the Street was clearly not. Our estimate is largely unchanged. With leverage now likely to move above 5x in 2012, we have lowered our outlook for share repurchases, as re-investment in the business is a higher priority than incremental capital returns."
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 $14.13 yesterday.
Analyst, Mike McCormack, said, "Following what was otherwise a good 4Q, we think that Cablevision has set a low bar for 2012. However, given a full year of disappointing quarters we do not expect investors to believe until consistency can be restored. We had been braced for $2.2bn of EBITDA in 2012, however, the Street was clearly not. Our estimate is largely unchanged. With leverage now likely to move above 5x in 2012, we have lowered our outlook for share repurchases, as re-investment in the business is a higher priority than incremental capital returns."
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 $14.13 yesterday.
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