UPDATE: Jefferies & Company Reiterates Hold Rating, Raises PT on Cablevision Systems Corporation
In a report published Wednesday, Jefferies & Company reiterated its Hold rating on Cablevision Systems Corporation (NYSE: CVC), and raised its price target from $15.00 to $17.00.
Jefferies noted, “CVC reported mixed 3Q results in our view, with better sub adds, in-line revenues, but lower AOCF. CVC is aggressively investing on improving customer experience via all-digital platform, revamped user interface, more content, and denser WiFi network. While we are constructive on the LT value enhancement, we remain concerned about the NT margin impact and higher capex. Maintaining Hold but raising TP to $17 from $15.”
Cablevision Systems Corporation closed on Tuesday at $15.49.
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