Goldman Sachs Sets Price Target Of $25 On Cablevision

According to Goldman Sachs, Cablevision Systems (NYSE: CVC) estimates are updated to reflect the spin of AMC Networks. Pro forma, the new 2011-2013 CVC EPS is now $1.23/$1.33/$1.69 (from $1.45/$1.64/$2.12 previously).

Goldman Sachs said that its 12-month PT is $25 (from $29), as negative impacts from loss of AMC (-$8-$9) are offset by a higher Cable multiple post-spin. “Our 12 month $25 price target is the average of our DCF/SOP valuations.”

Cablevision Systems closed yesterday at $36.21.