Benzinga Breakfast Notes: Wunderlich Raises Price Target On Cablevision From $19 To $21
Highlights from Wunderlich's note on Cablevision Systems Corporation (NYSE: CVC).
1. Increased confidence on the appeal of its advanced product suite and gradual pricing power.
2. We look for Optimum ARPU per video customer to be up 6.4% to $175.10
3. We estimate Optimum programming cost per sub up 10.0% to $53.88.
4. Cisco (CSCO-$24.88, Hold) expects wireless broadband networks to carry more IP traffic than fixed networks by 2018, when Wi-Fi and LTE networks should carry 61% of traffic.
5. New customer-facing initiatives are working.
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