C-Cor Could Get Rebuild Boost - Broadcasting & Cable

C-Cor Could Get Rebuild Boost

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Broadband Services Company C-Cor took a hit from Hurricane Katrina, but one analyst sees long-term gain as it helps cable systems rebuild plant damaged by the storm.

C-Cor recorded a fiscal fourth-quarter loss in August and expects $2 million less in sales due to Katrina-delayed system upgrades in Mobile and Pensacola, according to Friedman Billings Ramsey media analyst Alan Bezoza.

But Bezoza is reiterating his "outperform" rating on the stock, saying that the wide-scale network damage to operators including Cox, Comcast, Time Warner, will mean rebuilding work for C-Cor and others.

"[W]e believe patient investors will be handsomely rewarded," he said.

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