Brean Capital Doesn't See Reason for Confidence on Cablevision Systems Corporation
In a report published Monday, Brean Capital analyst Todd Mitchell reiterated a Hold rating on Cablevision Systems (NYSE: CVC).
In the report, Brean Capital noted, “We believe the proposed merger of Comcast (CMCSA $51.05, Buy) and Time Warner Cable (TWC $140.54, Hold) had thrown the rest of the industry into disarray and removed much of the strategic value of Cablevision. Prior to the merger, the acquisition of Cablevision could have helped TWC fend off a hostile bid from Charter, or perhaps it could have been a step-two in a Charter-controlled TWC consolidating the NYC regional market. But even assuming Charter will move forward and try to consolidate the rest of the industry, it would likely start with Cox, then move on to contiguous regional targets, with a long way to go before coming to Cablevision.”
Cablevision Systems closed on Friday at $16.10.
Latest Ratings for CVC
|Sep 2015||Raymond James||Downgrades||Outperform||Underperform|
|Sep 2015||Pivotal Research||Downgrades||Buy||Hold|
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.