UPDATE: Nomura Raises PT to $21 on Cablevision Systems Corporation on Operational Improvement

Nomura reiterated its Buy rating on Cablevision Systems Corporation

and raised its price target from $19 to $21. Nomura commented, "Operational improvements provide upside potential. Cablevision shares have lagged its cable peers and underperformed the S&P 500, rising 18% year-to-date versus 53% for Comcast, 55% for Time Warner Cable, 35% for Charter, and 15% for the S&P 500, respectively. After six consecutive quarterly AOCF misses, we see light at the end of the investment tunnel into 2013, and highlight that current estimates have substantial upside potential." Cablevision Systems Corporation closed at $16.47 on Wednesday.