Altice USA Stock (ATUS): $17 Price Target From Wolfe Research

By Amit Chowdhry ● Jan 19, 2022
  • The shares of Altice USA Inc (NYSE: ATUS) have received a $17 price target from Wolfe Research. These are the details.

The shares of Altice USA Inc (NYSE: ATUS) have received a $17 price target from Wolfe Research. And Wolfe Research analyst John Janedis had downgraded Altice USA to a “Peer Perform” rating from an “Outperform” rating while reducing the price target from $26.

Janedis had cited his view that cable operators will continue to see slower growth in their core broadband business over both the near and long-term. And while cable has established a strong foothold within the ecosystem, Janedis believes fiber overbuilders and 5G fixed wireless entrants have the most to gain on the margin and prefer scaled aggregators that can provide the highest quality, lowest priced converged mobile and broadband offerings as competition intensified.

Janedis estimates only 9 million cable net adds through the calendar year 2030, which compares to the consensus forecast for 8.2M million net adds in the next 4 years.

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