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Fly News Breaks for December 11, 2015
TWC, ATCEY, CVC
Dec 11, 2015 | 06:35 EDT
JPMorgan analyst Philip Cusick upgraded Cablevision (CVC) to Overweight with a $35 price target. After meeting with Altice (ATCEY) management, the analyst has increased confidence that the company's $34.90 per share cash takeover of Cablevision should close, likely by mid-2016. Altice's $900M synergy target appears reasonable, Cusick tells investors in a research note on the Cable sector. Time Warner Cable (TWC) remains his top pick in the space. He has an Overweight rating on the name with a $200 price target.
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