UPDATE: Citigroup Downgrades Cablevision Systems
Citigroup downgraded shares of Cablevision Systems (NYSE: CVC) from Neutral to Sell and maintained a $17 price target.
In the note, Citigroup analyst Jason Bazinet explained that Windstream has opened the door into the REIT space for other Telcom & Cable firms. However, Bazinet said it is unlikely that Cablevision will convert to a REIT because it would complicate a future sale.
Bazinet's downgrade of Cablevision comes amid the recent run-up in its share price and presumed low probability that the company will convert to a REIT.
Latest Ratings for CVC
|Dec 2015||JP Morgan||Upgrades||Neutral||Overweight|
|Oct 2015||Moffett Nathanson||Upgrades||Neutral|
|Sep 2015||Raymond James||Downgrades||Outperform||Underperform|
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.