Lowering The Boom: Analyst Knocks Comcast, TWC Estimates

By John Ourand, Staff Writer

Pali Capital’s Rich Greenfield lowered his estimates on Comcast and Time Warner Cable, based in part on their sports and HD strategies. Just four days earlier, Greenfield downgraded Mediacom stock to “sell,” citing "poor management decision-making related to sports programming” as a main reason. “The cable industry has taken a hard line on new sports programming networks that they do not own or control,” he wrote. “In turn, the competition has used sports, especially HD sports to its marketing advantage (Big Ten Network and NFL Network).” Greenfield lowered the companies’ subscriber and financial estimates below management guidance.