Digital TV Gains Boost Mediacom

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Salomon Smith Barney Inc. analyst Niraj Gupta raised his rating on Mediacom Communications Corp. to "in line" from "underperform," based on its improved operating results. In a report, Gupta wrote that Mediacom has made significant improvements in digital subscriber growth and digital churn. In the third quarter, Mediacom added about 1,500 digital customers per week, above Gupta's estimate of 1,300 per week. As a result, the analyst increased his 2003 cash-flow estimate for the MSO to $420 million from $414 million and raised his price target on the stock to $11 per share from $7 per share.

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