BMC Initiates Cablevison Systems at Hold

BMC is out with its report today on Cablevision Systems (NYSE: CVC), initiating CVC at Hold.

In a note to clients, BMC writes, "Cablevision to us is a strong operator with a good management team. A concentrated footprint, attractive marketplace, and robust infrastructure will aid in the launch of new OTT services, but strong local competition and already high levels of service penetration will conspire to limit organic growth."

At the time of posting, shares of CVC were trading pre-market at $26.60, down 2.28% from Friday's close.