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UPDATE: Citigroup Downgrades Cablevision Systems

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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

DateFirmActionFromTo
Nov 2014CitigroupMaintainsNeutral
Nov 2014WunderlichMaintainsHold
Sep 2014Canaccord GenuityInitiates Coverage onHold

View More Analyst Ratings for CVC
View the Latest Analyst Ratings

Posted-In: Citigroup Jason BazinetAnalyst Color Downgrades Price Target Analyst Ratings

 

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