UPDATE: Canaccord Genuity Upgrades Cablevision (CVC) to Buy, See Rate Hike and LT Dolan Takeover

(Updated - October 22, 2012 9:00 AM EDT)

Canaccord Genuity upgraded Cablevision (NYSE: CVC) from Hold to Buy and raised its price target from $18 to $23.

"Essentially, despite CVC's recent appreciation, we expect further gains due to
improving FY13 financials. More specifically, we expect CVC will raise rates, which will translate to higher FY13 revenue, AOCF and FCF than we had previously estimated. Additionally, we would not be surprised if the company reduced its leverage ratio with the sale of the recently acquired Bresnan Communications. Longer term, we believe it's likely that the Dolan family attempts again (for the third time) to take the company private."

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 $18.39 yesterday.

---

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

---

You May Also Be Interested In

• Needham Upgrades Netflix (NFLX) to Buy, 'on Rev Upside from Tech Stack'
• Wolfe Research Upgrades Bank of America (BAC) to Outperform, 'Underearning Firms Shouldn’t Trade at a Discount'
• Comerica (CMA) PT Raised to $54 at Piper Sandler