Market Overview

UPDATE: Goldman Sachs Downgrades Cablevision Systems to Sell on Added Cost Pressures

Related CVC
Brean Capital Sees M&A In Future For Cablevision Systems
How Cablevision Systems (CVC) Stock Stands Out in a Strong Industry - Tale of the Tape
J-Lo-Backed Network Outbids 'Diddy' for Fuse (Fox Business)

Goldman Sachs reduced its rating on Cablevision Systems (NYSE: CVC) from Neutral to Sell and lowered its price target from $15 to $11.

Goldman Sachs said, "We downgrade CVC to Sell from Neutral, and see over 20% downside risk to our new $11, 12-month price target (vs. 9% average upside potential for peers). We believe the current investment cycle runs through next year and long-term capital intensity will not return to prior levels. In addition, CVC has industry-leading product penetration, but faces the most intense competition. Verizon is the largest threat, and while the company's FiOS adds have disappointed for the past several quarters, current promotions have returned to prior levels. We believe Verizon returns to 150K+ adds per quarter pacing exiting 4Q12, most directly impacting CVC."

Cablevision Systems closed at $13.65 on Wednesday.

Posted-In: Goldman SachsAnalyst Color Downgrades Pre-Market Outlook Analyst Ratings

 

Most Popular

Related Articles (CVC)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters