Altice USA price target lowered to $2 from $3 at Loop Capital

Loop Capital analyst Alan Gould lowered the firm’s price target on Altice USA (ATUS) to $2 from $3 and keeps a Hold rating on the shares. There was some discussion reported in the media that Charter (CHTR) might be interested in the company, but that is unlikely with Altice’s leverage, Charter’s broadband slowdown, and the current interest rate environment, the analyst tells investors in a research note. Altice now has a superior broadband product in about half of its East Coast footprint and a strong mobile virtual network operator partner in T-Mobile (TMUS), but is still fighting legacy reputational issues, the firm added.