Cablevision (CVC) (AHS) (SAM) (AVAV) (AVB) (COLM) Ratings, Price Targets

Cablevision (NYSE: CVC), AMN Healthcare Services, Inc. (NYSE: AHS), The Boston Beer Company, Inc. (NYSE: SAM), AeroVironment (NASDAQ: AVAV), AvalonBay Communities, Inc. (NYSE: AVB) and Columbia Sportswear (NASDAQ: COLM) ratings and price targets.

AMN Healthcare Services, Inc. (AHS) was downgraded by Citigroup (NYSE:C) from a “neutral” rating to a “sell” rating.

The Boston Beer Company, Inc. (SAM) had its price target lowered by Auriga to $92.00.

AeroVironment (AVAV) was downgraded by Pacific Crest from an “outperform” rating to a “sector perform” rating.

AvalonBay Communities, Inc. (AVB) was downgraded by BMO Capital Markets from a “market perform” rating to an “underperform” rating.

Cablevision (CVC) was upgraded by Zacks Investment Research from an “underperform” rating to a “neutral” rating.

Columbia Sportswear (COLM) had its price target lowered by Robert W. Baird from $62.00 to $53.00. They have a “neutral” rating on the firm.

AT&T (T) (TKLC) (TRGT) (CVC) (DANOY) (DCT) Downgraded

AT&T Inc. (NYSE: T), Tekelec (NASDAQ: TKLC), Targacept Inc. (NASDAQ: TRGT), Cablevision (NYSE: CVC), Groupe Danone SA (NASDAQ: DANOY) and DCT Industrial Trust Inc. (NYSE: DCT) were downgraded by analysts.

AT&T Inc. (T) was downgraded by Piper Jaffray (NYSE:PJC) to a “Neutral” rating.

Tekelec (TKLC) was downgraded by Sidoti from a “Buy” rating to a “Neutral” rating.

Targacept Inc. (TRGT) was downgraded by Leerink from an “Outperform” rating to a “Market Perform” rating.

Cablevision (CVC) was downgraded by BTIG from a “Buy” rating to a “Neutral” rating.

Groupe Danone SA (DANOY) was downgraded by Credit Suisse (NYSE:CS) from a “Neutral” rating to an “Underperform” rating.

DCT Industrial Trust Inc. (DCT) was downgraded by Keefe, Bruyette & Woods, Inc from an “Outperform” rating to a “Market Perform” rating.

Cablevision (CVC) (PNR) (STJ) (VIA-B) (CNC) (CW) Ratings, Price Targets

Cablevision (CVC), Pentair, Inc. (PNR), St. Jude Medical, Inc. (STJ), Viacom (VIA-B), Centene Co. (CNC) and Curtiss-Wright (CW) ratings and price targets.

Brean Murray reiterated its “Hold” rating on Cablevision (CVC).

UBS AG (NYSE:UBS) reiterated its “Neutral” rating on Pentair, Inc. (PNR).

Barclays Capital (NYSE:BCS) reiterated its “Overweight” rating on St. Jude Medical, Inc. (STJ).

UBS AG reiterated its “Buy” rating on Viacom (VIA-B).

Deutsche Bank (NYSE:DB) raised its price target on Centene Co. (CNC) to $38.00.

Deutsche Bank reiterated its “Buy” rating on Curtiss-Wright (CW). They have a price target of $41.00 on the company.

Lender Processing (LPS) (LRN) (CVC) (SQNS) (SKY) (VPG) Biggest NYSE Losers

Lender Processing Services Incorporated (LPS), K12 Inc. (LRN), Cablevision (CVC), Sequans Communications (SQNS), Skyline Corporation (SKY) and Vishay Precision Group Inc. (VPG) were the biggest losers on the NYSE, Friday, December 16.

Lender Processing Services Incorporated (LPS) ended the day down 16.78 percent, closing at $14.43. They traded in a range of $14.34 to $17.74. A total of 6,016,810 shares changed hands.

K12 Inc. (LRN) ended the day down 9.21 percent, closing at $18.82.They traded in a range of $18.46 to $21.23. A total of 1,386,148 shares changed hands.

Cablevision (CVC) ended the day down 8.76 percent, closing at $12.71. They traded in a range of $11.57 to $12.86. A total of 24,783,944 shares changed hands.

Sequans Communications (SQNS) ended the day down 8.43 percent, closing at $2.28. They traded in a range of $2.25 to $2.47. A total of 444,379 shares changed hands.

Skyline Corporation (SKY) ended the day down 6.55 percent, closing at $4.85. They traded in a range of $4.25 to $5.44. A total of 236,943 shares changed hands.

Vishay Precision Group Inc. (VPG) ended the day down 6.27 percent, closing at $15.09. They traded in a range of $15.02 to $16.30. A total of 20,748 shares changed hands.

Steelcase (SCS) (SBS) (SFSF) (CVC) (DPZ) (DWA) Downgraded

Steelcase (NYSE: SCS), Basic Sanitation Company of the State of Sao Paulo (NYSE: SBS), SuccessFactors, Inc. (NASDAQ: SFSF), Cablevision (NYSE: CVC), Domino’s Pizza, Inc. (NYSE: DPZ) and DreamWorks Animation (NYSE: DWA) were downgraded by analysts.

Basic Sanitation Company of the State of Sao Paulo (SBS) was downgraded by Standpoint Research from a “Buy” rating to a “Hold” rating.

Steelcase (SCS) was downgraded by Longbow Research from a “Buy” rating to a “Neutral” rating.

SuccessFactors, Inc. (SFSF) was downgraded by Stifel Nicolaus from a “Buy” rating to a “Hold” rating.

Cablevision (CVC) was downgraded by Wells Fargo & Co. (NYSE:WFC) from an “Outperform” rating to a “Market Perform” rating.

Domino’s Pizza, Inc. (DPZ) was downgraded by Feltl & Co. from a “Buy” rating to a “Hold” rating. They have a price target of $33.00 on the company.

DreamWorks Animation (DWA) was downgraded by Piper Jaffray (NYSE:PJC) from an “Overweight” rating to a “Neutral” rating. They have a price target of $20.00 on the company.

Cablevision (CVC) (SGY) (SM) (TER) (CRK) (CXO) (DNR) Price Targets Changed

Cablevision (NYSE: CVC), Stone Energy (NYSE: SGY), SM Energy (NYSE: SM), Teradyne, Inc. (NYSE: TER), Comstock Resources Inc. (NYSE: CRK), Concho Resources Inc. (NYSE: CXO) and Denbury Resources Inc. (NYSE: DNR) had price targets on them adjusted by analysts.

Cablevision (CVC) had its price target lowered by Deutsche Bank (NYSE:DB) from $30.00 to $26.00. They have a “Buy” rating on the company.

Stone Energy (SGY) had its price target raised by Barclays Capital from $32.00 to $36.00. They have an “Overweight” rating on the company.

SM Energy (SM) had its price target raised by Barclays Capital from $109.00 to $113.00. They have an “Overweight” rating on the company.

Teradyne, Inc. (TER) had its price target raised by Barclays Capital from $17.00 to $20.00. They have an “Overweight” rating on the company.

Comstock Resources Inc. (CRK) had its price target lowered by Barclays Capital from $25.00 to $21.00. They have an “Equal Weight” rating on the company.

Concho Resources Inc. (CXO) had its price target raised by Barclays Capital from $85.00 to $108.00. They have an “Equal Weight” rating on the company.

Denbury Resources Inc. (DNR) had its price target raised by Barclays Capital from $16.00 to $22.00. They have an “Overweight” rating on the company.

Cablevision (CVC) (D) (DLR) (EQR) (CR) (CSL) Price Targets Changed

Cablevision (NYSE: CVC), Dominion Resources, Inc. (NYSE: D), Digital Realty Trust, Inc. (NYSE: DLR), Equity Residential (NYSE: EQR), Crane Co. (NYSE: CR) and Carlisle Companies, Inc. (NYSE: CSL) had price targets on them adjusted by analysts.

Cablevision (CVC) had its price target lowered by UBS AG (NYSE:UBS) to $16.00. They have a “Neutral” rating on the company.

Dominion Resources, Inc. (D) had its price target raised by Barclays Capital from $52.00 to $55.00. They have an “Overweight” rating on the company.

Digital Realty Trust, Inc. (DLR) had its price target raised by Barclays Capital from $62.00 to $66.00. They have an “Overweight” rating on the company.

Equity Residential (EQR) had its price target raised by Barclays Capital from $56.00 to $58.00. They have an “Equal Weight” rating on the company.

Crane Co. (CR) had its price target lowered by FBR Capital from $52.00 to $50.00. They have an “Outperform” rating on the company.

Carlisle Companies, Inc. (CSL) had its price target raised by FBR Capital from $41.00 to $44.00. They have a “Market Perform” rating on the company.

Great Panther (GPL) (TWC) (CNQR) (CVC) (DISH) Get New Coverage from Analysts

Great Panther Silver (AMEX: GPL), Time Warner Cable (NYSE: TWC), Concur Technologies, Inc. (NASDAQ: CNQR), Cablevision (NYSE: CVC) and DISH (NASDAQ: DISH) had coverage initiated on them by analysts.

Global Hunter Securities initiated coverage on Great Panther Silver (GPL). They placed an “accumulate” rating and a price target of $4.25 on the company.

Brean Murray initiated coverage on Time Warner Cable (TWC). They placed a “hold” rating on the company.

Barclays Capital initiated coverage on Concur Technologies, Inc. (CNQR). They placed an “equal weight” rating and a price target of $54.00 on the company.

Brean Murray initiated coverage on Cablevision (CVC). They placed a “hold” rating on the company.

Brean Murray initiated coverage on DISH (DISH). They placed a “buy” rating and a price target of $41.00 on the company.

Great Panther closed Monday at $3.60, falling $0.13, or 3.49 percent. Time Warner Cable closed at $77.78, dropping $1.46, or 1.84 percent. Concur Tech ended the day at $50.61, down $1.09, or 2.11 percent. Cablevision closed at $26.56, declining $0.66, or 2.42 percent. DISH Network closed at $31.23, losing $0.55, or 1.73 percent.

Dividend Yields for (OMC) (CMCSA) (CVC) (VIA-B) (IPG)

Indicated dividend yields for Standard & Poor's 500 Index companies Omnicom Group Inc (OMC), Comcast Corp (CMCSA), Cablevision Systems Corp (CVC), Viacom Inc (VIA-B) and Interpublic Group (IPG).

These dividend data indicate dividend yields of companies in the Standard & Poor's 500 Index as of Saturday, April 30. The yield is determined by taking the latest declared dividend, annualized and divided by the price of the stock. Payout ratios are calculated based on latest quarterly dividend paid divided by earnings.

Omnicom Group Inc (OMC) has a dividend yield of 2.03 percent on a declared dividend of $0.25. The payout ratio is 35.1 percent.

Comcast Corp (CMCSA) has a dividend yield of 1.72 percent on a declared dividend of $0.11. The payout ratio is 26.0 percent.

Cablevision Systems Corp (CVC) has a dividend yield of 1.42 percent on a declared dividend of $0.12. The payout ratio is 31.8 percent.

Viacom Inc (VIA-B) has a dividend yield of 1.17 percent on a declared dividend of $0.15. The payout ratio is 23.7 percent.

Interpublic Group (IPG) has a dividend yield of 2.04 percent on a declared dividend of $0.06. The payout ratio is na.

Comcast (CMCSA) and Benefit of NBCU Deal

Comcast (NASDAQ:CMCSA) has released their projections of how the deal with NBC-Universal will play out for them, and some analysts have chimed in with their own outlook.

Goldman Sachs analyst Jason Armstrong reinstated coverage of Comcast (CMCSA) shares with a Buy rating, offering estimates for how the combined business with NBC-Universal could lead to surge in free cash flow.

Armstrong writes the stock is worth $33 on a discounted cash flow basis, or $29 on a sum-of-the-parts basis, using a multiple of 6 times for the cable unit’s profit and 7 times for the NBCU joint venture.

While Comcast’s official projections of the economics of the new combined business are not expected until April, Armstrong today offers a preliminary calculation: revenue may grow 4% from this year through 2013, Ebitda may rise 6.5%, and free cash flow may rise 15% in that time, to $2.94 per share in 2013. Cash flow will be helped by a “significant increase in share repurchase activity over the next few years,” he writes.

In fact, Armstrong writes, following in the foot-steps of peers that have been doing a lot of buybacks, such as DirecTV (DTV), Time-Warner Cable (TWC), and Cablevision (CVC), Comcast, “has the potential to become the next big capital allocation story” in the industry.




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2011 Previews of News Corp. (NASDAQ:NWSA), Cablevision (NYSE:CVC), Comcast (NYSE:CMCSA), Time Warner Cable (NYSE:TWC), Netflix (NASDAQ:NFLX), Sirius (NASDAQ:SIRI), DreamWorks (NYSE:DWA), Viacom (NYSE:VIA.B)

News Corp. (NASDAQ:NWSA), Cablevision (NYSE:CVC), Comcast (NYSE:CMCSA), Time Warner Cable (NYSE:TWC), Netflix (NASDAQ:NFLX), Sirius (NASDAQ:SIRI), DreamWorks (NYSE:DWA) and Viacom (NYSE:VIA.B) got previews from S&P Equity Research analyst Tuna Amobi, in an industry that appears to be finally working its way out of a long drought.

Here's what Amobi sees 2011 bringing:

News Corp. prevailing in its bid for majority ownership of BSkyB, and the company cutting its losses with MySpace.

Advancements will be made in terms of interactive advertising, as cable operators including Cablevision. Comcast and Time Warner Cable start to leverage a growing base of EBIF-enabled U.S. households.

Netflix Inc. will likely see one or more film studios to sign relatively long-term streaming rights deals for content, which may come from the independents.

Sirius XM will sees progress in the used car segment to finally start showing growth through its automotive subscriber base. Also the new year will bring about the advent of "Sirius 2.0."

Comcast's deal for General Electric's NBC Universal should pass regulatory obstacles with a few unusual conditions.

DreamWorks Animation and Viacom's Paramount Pictures will sign a new, multi-year distribution agreement, to extend beyond the 2012 end of their current pact.

Netflix (NASDAQ:NFLX) Replaces Office Depot (NYSE:OD) on S&P 500

Several changes were made to the S&P 500 Thursday, with one of the more notable ones being the addition of Netflix (NASDAQ:NFLX), which will be replacing Office Depot (NYSE:OD) on the index.

Other changes made include the addition of Cablevision Systems Corp. (NYSE:CVC), which is replacing King Pharmaceuticals Inc. (NYSE:KG) because of being acquired by Pfizer (NYSE:PFE).

Also being dropped from the S&P is Eastman Kodak (NYSE:EK) and the New York Times (NYSE:NYT), who will be replaced by Newfield Exploration (NYSE:NFX) and F5 Networks (NASDAQ:FFIV).

Stocks removed from the S&P 500 will be lowered to the mid-cap 400 index.

Also noted in the S&P report was changes to the SmallCap 600, where Coldwater Creek Inc. (NASD:CWTR), Corinthian Colleges Inc. (NASD:COCO) and Wilmington Trust Corp. (NYSE:WL) will be replaced by East West Bancorp Inc. (NASD: EWBC), SM Energy Co. (NYSE:SM) and Concur Technologies Inc.

Those removed from the SmallCap 600 will be placed in the S&P MidCap 400.

Cablevision Systems (NYSE:CVC) Looking to Spin Off Rainbow Media

Cablevision Systems Corp. (NYSE:CVC) has given a nod toward the possibility they may spin off their Rainbow Media Holdings LLC unit.

"Earlier today (Thursday), Cablevision announced that it is exploring a leveraged spin-out of Rainbow Media. The assets under discussion for a spin-out are not perfectly reflected in Cablevision’s financials, as the Rainbow business line includes News 12 operations (operates at a loss), which are staying within Cablevision. In addition, Rainbow will need to pick-up its own corporate expense as it separates from Cablevision...We believe Rainbow could be worth $2.5 bn in 2012 (first full-year post-spin), with includes 4x leverage at the end of 2012, which equates to 12x 2012E free cash flow and 10x 2012E EBITDA," said BTIG.

The spin off would result in a tax-free pro rata distribution to shareholders, i.e. a leveraged spin off. The transaction would be completed by sometime in the middle of 2011.

Cablevision closed Thursday at $30.91, rising by $1.98, or 6.84 percent. BTIG has a price target of $37 on Cablevision, and maintains a "Buy" rating on them.