UPDATE: New Street Research Upgrades Altice-USA (ATUS) to Buy

July 22, 2022 4:10 AM EDT
Get Alerts ATUS Hot Sheet
Price: $5.81 +1.93%

Rating Summary:
    13 Buy, 19 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 10 | Down: 4 | New: 31
Join SI Premium – FREE
(Updated - July 22, 2022 5:13 AM EDT)

New Street Research analyst Jonathan Chaplin upgraded Altice-USA (NYSE: ATUS) from Neutral to Buy with a price target of $15.00.

The analyst comments "Bloomberg reported today that Altice is considering a sale of its Suddenlink asset for as much as $20BN. This comes on the heels of comments from the CEO stating that they had "in-bound interest” in Suddenlink and that "everything was on the table". We have been getting questions on a possible Suddenlink deal all week, so the story isn't a huge surprise. We think a deal is reasonably likely. The probability weighted upside is compelling enough for us to upgrade the stock, even after the move today. Our new target is $15 based on 50% odds of a taxed cash deal. We run through implications for Altice and the sector in this brief note."

For an analyst ratings summary and ratings history on Altice-USA click here. For more ratings news on Altice-USA click here.

Shares of Altice-USA closed at $11.23 yesterday.

You May Also Be Interested In

Related Categories

Analyst Comments, Upgrades