S&P Capital IQ Reiterates its HOLD Rating on Cablevision Systems

October 29 00:00 2011

New York, October 29 (RainbowNewsLine.com) – Analyst Tuna Amobi of S&P Capital IQ reiterates his HOLD rating on the shares of Cablevision Systems (NYSE: CVC), while reducing the estimates for the company. The 12-month target price is set to $16.

Analyst Tuna Amobi, in a research published yesterday mentions that the company has reported its Q3 EPS short of the estimates. There was a sharp sell-off in Q3 in the midst of difficult economy, tough competition and rise in enterprise holding, the analyst says. The EPS estimates for 2011 and 2012 have been reduced from $1.17 to $0.90 and from $1.35 to $1.07, respectively, as Bresnan deal was emphasized for long-term financial targets, the analyst adds.