UPDATE: Stifel Nicolaus Initiates Ascent Capital Group at Hold on Valuation

Stifel Nicolaus initiated coverage on Ascent Capital Group, Inc. ASCMA with a Hold rating. Stifel Nicolaus commented, "We think Monitronics may be an excellent acquisition candidate for a large cable or telecom provider looking to make a platform acquisition in the space, but we are hesitant to recommend a stock primarily based on a potential takeout. Also, we just don't foresee enough near-term upside to the current valuation to justify a Buy rating." Ascent Capital Group closed at $63.58 on Monday.