Goldman Sachs analyst Brett Feldman downgraded Altice USA to Neutral from Buy with a price target of $5, down from $7. Altice USA is doing the right thing strategically by investing in fiber, but this project will take some time, Feldman tells investors in a research note. As such, the analyst sees risk that the company’s path to sustainably positive broadband net adds could take longer than expected as it faces further competition from telco fiber and fixed wireless across "large swaths" of its footprint that are not yet upgraded.
Published first on TheFly
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