Altice USA price target raised to $16 from $15 at TD Cowen

TD Cowen analyst Gregory Williams raised the firm’s price target on Altice USA to $16 from $15 and keeps an Outperform rating on the shares. The firm said its turnaround is taking hold but the call was overshadowed by the Portugal scandal which will drive a temporary pause on FTTH builds. That said management could look to the nascent FTTH ABS market which could be an underappreciated game-changer to completely solve its balance sheet woes.