Cablevision Systems upgraded to "market outperform"

10/26/05 - Stifel Nicolaus

NEW YORK, October 26 (newratings.com) - Analysts at Stifel Nicolaus & Company upgrade Cablevision Systems (CVC) from "market perform" to "market outperform." The 12-month target price is set to $35.

In a research note published yesterday, the analysts mention that the Dolans have revoked their takeover bid of $21 per share on Cabelevision, which means that the company is not going private in the near future. According to the analysts, the offer has been withdrawn due to the recent weakness in the bond market, the concerns surrounding the equity valuation of the Rainbow networks and pressure on the Dolans to increase its bid price.