Bank of America Merrill Lynch Maintains Buy on Cablevision Systems

Bank of America Merrill Lynch is out with its report today on Cablevision Systems

, maintaining Buy. In a note to clients, Bank of America Merrill Lynch writes, "CVC has the most tightly clustered and profitable subscriber base in the U.S., focused on wealthy New York metro area suburbs. Strong network assets, with industry-leading penetration rates result in the lowest capex/revenue of any major operator, which we believe places the company at the cusp of very significant acceleration in cable FCF." Shares of CVC closed Monday at $35.48.