Evercore Lowers PT on Cablevision Systems to $21

Evercore is out with its report today on Cablevision Systems CVC, lowering its PT to $21 from $25. In its report, Evercore writes, "We lowered our DCF-based price target to $21, from $25, to reflect our lower earnings and FCF forecast. This represents 23% upside to the current market price. However, we are maintaining our Underweight as our ratings are relative to the sector." At the time of posting, shares of CVC were trading at $16.36, down 3.88% from Tuesday's close.