Altice USA, Inc. (ATUS)
ATUS Price and Sentiment
ATUS Latest news
Deutsche Bank analyst Bryan Kraft downgraded Altice USA Inc (NYSE:ATUS) to Hold from Buy with a price target of $22, down from $40, implying 25% upside. Cable stocks over the past few years have enjoyed a favorable environment, Kraft noted.
Charter has fallen 12% since September, after bad news at its peers, providing a good entry point for this multi-year compounder. The bear case is that AT&T's new fiber and Verizon's fixed wireless will erode Charter's business; but these efforts are still early stage.
Shares of Altice USA ATUS, -6.13% are off 5.7% in Monday trading after analysts at Credit Suisse and Raymond James downgraded the stock. Credit Suisse analyst Doug Mitchelson wrote that he has concerns about the company, even though the stock is "trading well below its likely asset value" and management is being more aggressive with its fiber buildouts.
Television provider Altice USA Inc (NYSE:ATUS) is down 5.3% at $19.51 this morning, after the security received downgrades from both Credit Suisse and Raymond James to "neutral" from "outperform," and "market perform" from "outperform," respectively.
Two firms downgraded Altice USA Inc (NYSE:ATUS), including a price target cut. Raymond James analyst Frank Louthan downgraded Altice USA to Market Perform from Outperform without a price target.
Two firms downgraded Altice USA Inc. including a price target cut.
The fallout continues from the CEO's admission that some broadband customers are heading for the exits.
ATUS stock lost 12.7% on Thursday after negative management comments at a conference call the investment case into question. ATUS now expects 15-20k of broadband net losses in Q3, which is blamed on lower gross adds, while churn supposedly has not worsened.
The one business that's produced any growth for cable companies may be nearing a peak stemming from market saturation.
Cable provider Altice USA Inc (NYSE: ATUS) expects to lose 15,000 to 20,000 broadband customers this quarter, Bloomberg reports. The company had 4.4 million internet customers at midyear and called the result “disappointing” at a Goldman Sachs Group Inc conference.