UPDATE: ISI Group Lowers PT on Cablevision Systems Corporation on Continued AOCF Pressures

In a report published Monday, ISI Group reiterated its Neutral rating on Cablevision Systems Corporation

, but slightly lowered its price target from $15.00 to $14.00. ISI Group noted, “We still think Cablevision shares will find it difficult to work materially in an environment where there is still flat/negative AOCF growth (excluding one-time charges) and high debt leverage. However, we do think organic growth should improve as the year progresses. We see 2013 as a repair year broadly, with FCF rebounding, although not back to 2011 levels. Capital returns will also be lower this year, we believe.” Cablevision Systems Corporation closed on Friday at $13.96.