Altice USA downgraded to Hold at TD Securities amid U.S. broadband challenges

As previously reported, TD Securities analyst Vince Valentini downgraded Altice USA to Hold from Buy with a price target of $6, down from $9. Challenging conditions in the U.S. broadband market "look likely to persist for at least another couple of quarters" and in that context the firm has reduced its cable segment target multiples, TD tells investors.