Citigroup analyst Jason Bazinet Monday morning added Cablevision (CVC) to the firm’s Top Picks Live list, asserting that there is little downside risk given a 10% free cash yield, and a potential catalyst in the proposed spin-off of the company’s MSG unit. His price target on the stock is $25, about 10% above Friday’s close at $22.25.
Meanwhile, the analyst removed EchoStar (SATS) from the Top Picks list to reflect recent performance, and likewise pulled Time Warner (TWX) from the list, again on a valuation basis. But both stocks hang on to their Buy ratings.
CVC Monday is off 21 cents, to $22.40. SATS is down $1.04, or 5.4%, to $18.23. TWX is off 41 cents, or 1.5%, to $27.92.