Altice USA price target lowered to $2 from $3 at Wells Fargo

Wells Fargo lowered the firm’s price target on Altice USA to $2 from $3 and keeps an Equal Weight rating on the shares. While management is making the right moves, Altice USA can’t de-lever without growth, the firm says. Until then, the equity is near enough underwater that the risk profile renders the shares “uninvestable,” Wells argues. The firm prefers the sidelines.