- Deutsche Bank analyst Bryan Kraft downgraded Altice USA Inc 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. The stocks benefitted from strong broadband subscriber growth, a relaxed competitive environment, margin expansion from product mix shift and pricing power, and declining capital intensity as network investment needs remained relatively stable.
- However, the period of favorable conditions for the cable industry "is now transitioning to a more competitive environment," says the analyst.
- As a result, Kraft downgraded both Charter Communications Inc CHTR and Altice USA to Hold.
- Kraft downgraded Charter to Hold from Buy with a $725 price target (suggesting 4.7% upside), down from $825.
- Price Action: ATUS shares traded lower by 3.28% at $17.52, while CHTR is down 0.50% at $691.72 on the last check Tuesday.
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ATUSAltice USA Inc
$2.294.09%
Edge Rankings
Momentum
70.32
Growth
10.63
Quality
N/A
Value
40.43
Price Trend
Short
Medium
Long
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