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Adami Offers Cablevision Play On Citi’s ‘Buy’

Cablevision shares could offer trading opportunities after a dip on the news of a high-profile departure, “Fast Money” pro Guy Adami said Monday.

“Everything is worth a look at in terms of a trade,” he said. “This is a name that if you believe in the tape you can definitely buy this stock for a trade, looking probably for $14.50, $15 and maybe your stop-loss somewhere around the levels we saw on Friday.”

The cable operator announced last week that COO Tom Rutledge would resign, leading to shares closing lower the following day.

CVC traded up 3 percent midday at $13.15.

On Monday, Cablevision received a “buy” rating by Citigroup, which added it to its list of top stocks and set a $21 price target.

Citi’s note to investors estimated the company’s value on the possibility of a sale following the change in management.

“I have a hard time getting to Cablevision,” said trader Zack Karabell, who noted that a major change in management was a concern. “I’d rather be in a Comcast, which I am in, maybe even a Time Warner.”

Trader Steve Grasso said Cablevision was a company to trade, not own.

“Other than a trade, I wouldn’t want to be buying this stock because of the price action,” he said.

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Trader disclosure: On Dec. 19, 2011, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders: Adami owns AGU; Adami owns MSFT; Adami owns NUE; Adami owns BTU; Adami owns C; Adami owns GS; Adami owns INTC; Grasso owns ASTM; Grasso owns AVAV; Grasso owns BA; Grasso owns D; Grasso owns LIT; Grasso owns MHY; Grasso owns PFE; Grasso owns PRST; Grasso owns S; Grasso owns XLU;

Steve Grasso
Stuart Frankel & Co and its partners own

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Stuart Frankel & Co and its partners own GERN

Stuart Frankel & Co and its partners own GM

Stuart Frankel & Co and its partners own HPQ

Stuart Frankel & Co and its partners own HSP

Stuart Frankel & Co and its partners own HSPO

Stuart Frankel & Co and its partners own MSFT

Stuart Frankel & Co and its partners own MU

Stuart Frankel & Co and its partners own NEM

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Brian Kelly
Shelter Harbor Capital is short UBS

Shelter Harbor Capital is short CS

Dan Dicker
No disclosures

Jeff Hirsch
No disclosures

Gregory Badishkanian
Citigroup Global Markets Inc. or its affiliates beneficially owns 1% or more of any class of common equity securities of Polaris Industries, Carnival Corp.. This position reflects information available as of the prior business day.

Within the past 12 months, Citigroup Global Markets Inc. or its affiliates has acted as manager or co-manager of an offering of securities of Harley-Davidson Inc, Mattel Inc.

Citigroup Global Markets Inc. or its affiliates has received compensation for investment banking services provided within the past 12 months from Harley-Davidson Inc, Mattel Inc, Hasbro Inc, Carnival Corp..

Citigroup Global Markets Inc. or its affiliates expects to receive or intends to seek, within the next three months, compensation for investment banking services from Harley-Davidson Inc.

Citigroup Global Markets Inc. or an affiliate received compensation for products and services other than investment banking services from Harley-Davidson Inc, Polaris Industries, Mattel Inc, Hasbro Inc, Carnival Corp. in the past 12 months.

Citigroup Global Markets Inc. currently has, or had within the past 12 months, the following as investment banking client(s): Harley-Davidson Inc, Mattel Inc, Hasbro Inc, Carnival Corp..

Citigroup Global Markets Inc. currently has, or had within the past 12 months, the following as clients, and the services provided were non-investment-banking, securities-related: Hain Celestial Group Inc, Harley-Davidson Inc, Mattel Inc, Hasbro Inc, Carnival Corp..

Citigroup Global Markets Inc. currently has, or had within the past 12 months, the following as clients, and the services provided were non-investment-banking, non-securities-related: Harley-Davidson Inc, Polaris Industries, Mattel Inc, Hasbro Inc, Carnival Corp..

Analysts' compensation is determined based upon activities and services intended to benefit the investor clients of Citigroup Global Markets Inc. and its affiliates ("the Firm"). Like all Firm employees, analysts receive compensation that is impacted by overall firm profitability which includes investment banking revenues.

The Firm is a market maker in the publicly traded equity securities of Hain Celestial Group Inc, Whole Foods Market Inc, Mattel Inc, Hasbro Inc.

Rajesh Ghai
ThinkEquity LLC makes a market in VMware, Inc., EMC Corporation and Microsoft Corporation securities; and/or associated persons may sell to or buy from customers on a principal basis.

Peter Misek
Ticonderoga Securities LLC makes a market in JEF security. Ticonderoga Securities LLC, in its market making capacity, sells to or buys from customers the securities of this company on a principal basis.

Rich Greenfield
No disclosures

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