Altice USA (ATUS) Price Target Cut to $25.00 by Analysts at Pivotal Research
Altice USA (NYSE:ATUS) had its price objective lowered by analysts at Pivotal Research from $30.00 to $25.00 in a research note issued on Wednesday, MarketBeat Ratings reports. The firm presently has a “buy” rating on the stock. Pivotal Research’s price objective indicates a potential upside of 34.99% from the stock’s previous close.
The analysts wrote, “We also updated our forecasts to account for the new Disney deal and tweaked our medium/long term EBITDA forecasts to better account for what we forecast will be higher customer service expenses. For 4Q we are now expecting (-17K) RGU losses (vs. our previous flat expectation), +2.6% revenue growth & +14% adjusted EBITDA growth. The changes + a conservative reduction in our target free cash flow multiple (from 15 to 12.5X) drove a $5 reduction in our YE’18 target price to $25, which still represents material upside from current levels. At current levels ATUS trades at 9X ’18 FCF (11X tax adjusted). In 2018 ATUS has $1.55B in debt maturities that should easily be retired via cash on hand, free cash flow and potentially tapping into $1.5B in available credit facilities. In ’19 they have $526M in maturities and $500M in ’20.””
ATUS has been the subject of several other reports. Moffett Nathanson started coverage on shares of Altice USA in a research report on Tuesday, October 10th. They issued a “neutral” rating and a $28.00 price objective for the company. Deutsche Bank reaffirmed a “buy” rating and issued a $35.00 price target on shares of Altice USA in a research report on Monday, November 6th. Atlantic Securities started coverage on shares of Altice USA in a research report on Tuesday, October 31st. They issued an “overweight” rating and a $32.00 price target for the company. Guggenheim reaffirmed a “neutral” rating and issued a $31.00 price target on shares of Altice USA in a research report on Friday, September 15th. Finally, Morgan Stanley lowered their price target on shares of Altice USA from $32.00 to $25.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 14th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Altice USA has an average rating of “Buy” and an average price target of $32.43.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Columbus Hill Capital Management L.P. acquired a new stake in shares of Altice USA in the second quarter worth $162,000. Stifel Financial Corp acquired a new stake in shares of Altice USA in the third quarter worth $224,000. OxFORD Asset Management LLP increased its stake in shares of Altice USA by 2.9% in the third quarter. OxFORD Asset Management LLP now owns 321,675 shares of the company’s stock worth $8,766,000 after acquiring an additional 9,175 shares during the period. Atlantic Trust Group LLC acquired a new stake in shares of Altice USA in the second quarter worth $323,000. Finally, Neuberger Berman Group LLC acquired a new stake in shares of Altice USA in the second quarter worth $366,000. Hedge funds and other institutional investors own 13.23% of the company’s stock.
COPYRIGHT VIOLATION NOTICE: “Altice USA (ATUS) Price Target Cut to $25.00 by Analysts at Pivotal Research” was originally reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this piece on another website, it was illegally copied and republished in violation of international copyright & trademark laws. The original version of this piece can be accessed at https://www.thecerbatgem.com/2017/12/06/altice-usa-atus-given-new-25-00-price-target-at-pivotal-research.html.
Altice USA Company Profile
Altice USA, Inc is engaged in providing broadband communications and video services in the United States. The Company’s segments include Cablevision and Cequel. Cablevision provides broadband, pay television and telephony services to residential and business customers in and around the New York metropolitan area.
Receive News & Stock Ratings for Altice USA Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Altice USA Inc and related stocks with our FREE daily email newsletter.