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Downgrade Alert for Cablevision Systems (CVC)

By Nick Russo

Cablevision Systems (NYSE:CVC) was downgraded from Outperform to Market Perform at Telsey Advisory today. The stock closed yesterday at $23.74 on volume of 3.1 million shares, below average daily volume of 6.6 million.

Cablevision Systems (NYSE:CVC) is currently priced 19.0% above its average consensus analyst price target of $19.24. Cablevision Systems shares have support at the 50-day moving average (MA) of $20.47 and additional support at the 200-day MA of $19.40.

Cablevision Systems share prices have moved between a 52-week high of $26.50 and a 52-week low of $16.87 and closed yesterday at 41% above that low price at $23.74 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.6% while the 50-day MA has advanced 2.3%.

Cablevision Systems Corporation provides telecommunications and entertainment services. The Company has operations in multimedia delivery, subscription cable television services, championship professional sports teams, and national television program networks.

SmarTrend recommended that subscribers consider buying shares of Cablevision Systems on April 24th, 2015 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $19.81. Since that recommendation, shares of Cablevision Systems have risen 19.9%. We continue to monitor CVC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: analyst upgrades/downgrades cablevision systems

Ticker(s): CVC