Deutsche Bank Reaffirms Buy Rating On CVC

Cablevision Systems Corporation CVC enjoys a unique cable footprint with dominant market shares, “leading network density / efficiency, attractive consumer dynamics, and the greatest relative SME opportunity,” Deutsche Bank reports, reaffirming its Buy rating on the stock. “Mgmt has fended off first DBS and then FiOS. Return of capital has ramped nicely,” Deutsche Bank writes. “It is sustaining higher-than-peer debt leverage (4x). The Rainbow spin-off should simplify the company. 22% upside to target.” Cablevision Systems Corporation closed Wednesday at $33.72.