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CHTR

Charter

$389.75

8.73 (2.29%)

, ATCEY

Altice

13:54
08/09/17
08/09
13:54
08/09/17
13:54

Altice lining up $185B offer for Charter, FT reports

Altice (ATCEY) is lining up a potential $185B bid for Charter Communications (CHTR) but has not formally made an approach and may not proceed, said Financial Times, citing sources. Shares in the company's recently listed U.S. cable subsidiary Altice USA (ATUS) remain nearly flat following the news of a potential bid, first reported this morning by CNBC, though shares of parent Altice have declined about 5% in Amsterdam trading, FT noted. Charter shares have been up about 2% for hours after a spike to their highs shortly after CNBC's first report. Reference Link

CHTR

Charter

$389.75

8.73 (2.29%)

ATCEY

Altice

ATUS

Altice USA

$30.96

-0.09 (-0.29%)

  • 14

    Aug

CHTR Charter
$389.75

8.73 (2.29%)

08/07/17
RBCM
08/07/17
NO CHANGE
RBCM
Charter price target raised to $420 from $356 at RBC Capital
RBC Capital analyst Jonathan Atkin raised his price target on Charter as he says the company reported "strong" Q2 results, driven by improving subscriber trends. He remains upbeat on the company's outlook due to its synergy and capital return opportunities. Atkin keeps an Outperform rating on the shares.
08/03/17
08/03/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Teva (TEVA) downgraded to Perform from Outperform at Oppenheimer with analyst Derek Archila saying he no longer sees a "clear path" for Teva to return to growth in a "timely manner" amid continued pricing pressure in U.S. generics. 2. Charter (CHTR) downgraded to Neutral from Buy at Guggenheim with analyst Michael Morris citing valuation and increased his price target to $400 from $370. 3. Allstate (ALL) downgraded to Hold from Buy at Deutsche Bank with analyst Joshua Shanker citing valuation. 4. Mattel (MAT) downgraded to Underperform from Neutral at DA Davidson with analyst Linda Bolton Weiser saying she left a recent management meeting with a more cautious outlook for the company's performance in the second half of 2017. 5. Lam Research (LRCX) downgraded to Neutral from Buy at Citi with analyst Atif Malik saying he's becoming more selective in the Semiconductor Capital Equipment space. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
08/03/17
GUGG
08/03/17
DOWNGRADE
GUGG
Neutral
Charter downgraded to Neutral from Buy at Guggenheim
Guggenheim analyst Michael Morris downgraded Charter to Neutral due to valuation and increased his price target to $400 from $370. The analyst expects incremental cost growth in 2018 and risk from higher financial leverage.
07/31/17
JPMS
07/31/17
NO CHANGE
Target $450
JPMS
Overweight
Charter offer would likely have to be at least $500 per share, says JPMorgan
JPMorgan analyst Philip Cusick believes SoftBank (SFTBY) is one of the few companies that could offer a big enough price to take control of Charter Communications (CHTR). While a deal is not very likely, Softbank Chairman Masayoshi Son "is never to be counted out as a buyer," Cusick tells investors in a research note. He believes a Charter acquisition offer would likely have to be in the $500 per share or higher range. Charter shares in premarket trading are up $31.74 to $402 after the Wall Street Journal reported Friday night that SoftBank has interest in merging the company with Sprint. Cusick estimates annual synergies between Sprint (S) and Charter could be around $2B, with minimal cost to integrate versus a Sprint and T-Mobile (TMUS) merger "which would have more eventual cost savings but cost much more to integrate." A Sprint and Charter deal would not have a difficult regulatory review, the analyst believes. Cusick adds that if Charter looked like it was going to sell to Softbank, Comcast (CMCSA) would have to decide if it ever did want to buy Charter and "move more quickly with an even bigger premium."
ATCEY Altice

07/17/17
GSCO
07/17/17
INITIATION
GSCO
Buy
Altice reinstated with a Buy at Goldman Sachs
Price target EUR 27.50.
03/13/17
SBSH
03/13/17
DOWNGRADE
SBSH
Neutral
Altice downgraded to Neutral from Buy at Citi
ATUS Altice USA
$30.96

-0.09 (-0.29%)

07/19/17
EXAN
07/19/17
INITIATION
Target $36
EXAN
Outperform
Altice USA initiated with an Outperform at Exane BNP Paribas
Exane BNP Paribas analyst San Dhillon initiated Altice USA with an Outperform and a $36 price target.
07/26/17
WELS
07/26/17
INITIATION
Target $34
WELS
Market Perform
Altice USA initiated with a Market Perform at Wells Fargo
Wells Fargo analyst Marci Ryvicker started Altice USA with a Market Perform rating and $34 price target.
07/26/17
07/26/17
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. AMD (AMD) initiated with an Outperform at Baird. 2. Altice USA (ATUS) initiated with a Market Perform at Wells Fargo. 3. Callidus Software (CALD) initiated with a Buy at Jefferies. 4. Jones Lang LaSalle (JLL) initiated with a Neutral at UBS. 5. Ocular Therapeutix (OCUL) initiated with a Buy at H.C. Wainwright. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
07/17/17
07/17/17
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. General Electric (GE) resumed with an Equal Weight at Morgan Stanley. 2. Post Holdings (POST) initiated with a Buy at Goldman Sachs. 3. Devon Energy (DVN) assumed with a Neutral at Piper Jaffray. 4. Baker Hughes (BHGE) initiated with a Market Perform at FBR Capital. 5. Altice USA (ATUS) was initiated with an Outperform at RBC Capital, an Overweight at JPMorgan, a Buy at Citi, an Equal Weight at Morgan Stanley and Barclays, as well as a Neutral at BofA/Merrill and Goldman Sachs. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

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