ISI Remaining Cautious with Cablevision Systems

In a research report published earlier today, ISI is remaining cautious when it comes to Cablevision Systems

, as no new COO has taken over. In the report, ISI commented, “On a sequential but normalized basis (excluding one-time Hurricane Irene costs), cable margins could be still decline as Verizon FiOS has remained promotionally aggressive coupled with CVC properties facing a rare late October Nor'easter that could have some impact on costs. (We expect greater clarity on any 1x costs during the earnings call.)” ISI maintains its Hold rating and $17 PT on Cablevision, which closed Friday at $15.62.