Analyst Boosts Cablevision Rating to 'Buy'

Cites expectation the company will raise rates and could sell Bresnan

By John Eggerton -- Broadcasting & Cable, 10/22/2012 10:07:59 AM

Canaccord Genuity analyst Thomas Eagan has upgraded the rating on Cablevision from "hold" to "buy," citing its expectation that the company will raise rates, could sell the recently acquired Bresnan Communications, and that the Dolan family could again try to take the company public.

Equity raised its target price on Monday for the stock from $18 to $23, in part due to the projected higher revenue in 2013 from the expected raise in rates.

It says the risk to that "buy" recommendation is that Cablevision decides not to raise rates and, instead, targets increased market share. Verizon boosting its build-out in New York and New Jersey would also affect that rating.