Mediacom Communications "underperform," target price raised

05/09/08 - RBC Capital Markets

NEW YORK, May 9 (newratings.com) - Analysts at RBC Capital Markets maintain their "underperform" rating on Mediacom Communications Corporation (MCCC). The target price has been raised from $6 to $7.

In a research note published yesterday, the analysts mention that the company has posted robust 1Q08 results, with better-than-expected RGU net adds. The upward revision in the target price reflects Mediacom Communications’ improving RGU growth and higher cash flows, the analysts say.