BofA Downgrades Cablevision to Underperform, PT Cut to $10

In a note out today, Bank of America downgraded Cablevision CVC to underperform and slashed its price target on the stock to $10 from $20. “A potential mitigating factor to our Underperform rating is a potential sale of the company, as cited in the press, however we do not believe a sale is imminent,” BofA said in the note.