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ATCEY

Altice

, ATUS

Altice USA

$19.86

-0.38 (-1.88%)

06:33
11/20/17
11/20
06:33
11/20/17
06:33

Altice says not in preparation of cash raising by means of equity issuance

Altice N.V. (ATCEY) responds to recent market speculation and misinformation. Altice is not in preparation of a cash raising by means of an equity- or equity-linked issuance and has no intention to pursue such action. Altice confirms that it is not in preparation of a cash raising by means of an equity- or equity-linked issuance and has no intention to pursue such action within the group including Altice USA (ATUS). Altice confirms it had 1,205.3 million shares outstanding excluding any treasury shares as of the end of Q3. Next Alt S.a.r.l. does not have any margin loan exposure to Altice and has not sold any material number of shares since the IPO Altice confirms that its majority shareholder Next does not hold any margin loan exposure related to Altice. Altice further confirms that Next has not sold any shares since the Altice IPO except approximately 0.3 million shares sold to group managers as disclosed in 2016. Management has not taken any active decision to sell Altice shares.The sale of shares attributed to Altice's CFO in September 2017 was executed by a financial institution on maturity of a funded collar originally entered into in March 2015. Altice's General Secretary reported the sale of shares between September and November 2017. The sale of these shares occurred due to unforeseen life circumstances. Altice plans to de-lever its balance sheet and does not have margin loan exposure within the group. Altice confirms its plans to de-lever its balance sheet and bring leverage in line with or below its stated targets over time. Altice reiterates that it will not pursue any new meaningful M&A opportunities. In addition to the operational turnaround in France, the disposal of non-core assets within Altice Europe is central to Altice's de-leveraging plan. Certain non-core assets have already been identified including Altice's tower portfolio. Altice has initiated processes to effect disposals as early as the first half of 2018 and will update investors in due course on its progress.

ATCEY

Altice

ATUS

Altice USA

$19.86

-0.38 (-1.88%)

ATCEY Altice

08/09/17
TLSY
08/09/17
UPGRADE
TLSY
Outperform
Altice could pay between $434 to $501 per share for Charter, says Telsey
As previously reported, Telsey Advisory upgraded Charter (CHTR) to Outperform from Market Perform and raised its price target to $450 from $340. Analyst Thomas Egan estimates Altice USA (ATUS) could pay between $434 to $501 per share for Charter and for shares to trade at a material discount during a regulatory review, but ultimately expects a deal to be approved.
08/14/17
UBSW
08/14/17
NO CHANGE
Target $450
UBSW
Buy
Charter price target raised to $450 from $380 at UBS
UBS analyst John Hodulik raised his price target on Charter to $450 from $380 following his review of potential strategic options for the company. The analyst looked at the increasing M&A speculation and said many of the options come with significantly higher leverage than its current ratio. He believes it can be increased and supported with free cash flow while maintaining its investment grade rating. Hodulik said applying a conservative multiple would suggest significant upside to the shares setting a possible floor for a suitor. Hodulik reiterated his Buy rating on Charter shares.
09/11/17
BTIG
09/11/17
NO CHANGE
Target $260
BTIG
Buy
Knicks sale would not be surprising after Rockets deal, says BTIG
BTIG analyst Brandon Ross noted that James Dolan and family have been actively unwinding their ties to the legacy TV bundle, both by splitting Madison Square Garden (MSG) from MSG Networks (MSGN) and via the sale of Cablevision to Altice (ATCEY). He also notes that Dolan is on record that he believes sports rights are in a bubble. Given all of this, and the recent big-ticket sale of the Houston Rockets, Ross would not be surprised to see Dolan consider a sale of the Knicks and/or Rangers, adding that selling one team or both could pave the way for an eventual "go-private" deal for the rest of MSG and its remaining live entertainment business. Ross keeps a Buy rating and $260 price target on Madison Square Garden shares.
11/07/17
GSCO
11/07/17
DOWNGRADE
GSCO
Neutral
Altice downgraded to Neutral from Conviction Buy at Goldman Sachs
Goldman Sachs analyst Andrew Lee downgraded Altice to Neutral and removed the shares from his firm's Conviction Buy list. The analyst believes the company's performance in France means a weaker sales growth outlook. He lowered his price target for the shares to EUR 14 from EUR 27.
ATUS Altice USA
$19.86

-0.38 (-1.88%)

11/06/17
WELS
11/06/17
NO CHANGE
Target $25
WELS
Market Perform
Altice USA price target lowered to $25 from $34 at Wells Fargo
Wells Fargo analyst Marci Ryvicker lowered her price target for Altice USA to $25 from $34 saying that while U.S. results were not that bad, concerns regarding the European model dragged the stock down. The analyst reiterates a Market Perform rating on the shares.
11/07/17
GSCO
11/07/17
UPGRADE
Target $31
GSCO
Buy
Altice USA upgraded to Buy from Neutral at Goldman Sachs
Goldman Sachs analyst Brett Feldman upgraded Altice USA to Buy saying the stock's pullback over the past two months has created an attractive entry point. The company now trades at a material discount to peers despite being less exposed to incremental broadband competition, Feldman tells investors in a research note. He lowered his price target for the shares to $31 from $33.
11/10/17
MOFT
11/10/17
UPGRADE
MOFT
Buy
Altice USA upgraded to Buy from Neutral at MoffettNathanson
11/14/17
RBCM
11/14/17
NO CHANGE
Target $35
RBCM
Outperform
Altice USA price target lowered to $35 from $40 at RBC Capital
RBC Capital analyst Jonathan Atkin lowered his price target on Altice USA to $35 but kept his Outperform rating following the company's Q3 earnings miss on November 2nd. Atkin says the subsequent sell-off is driven by operating concerns at the parent company rather than specific challenges for the U.S. unit, adding that the current valuations are attractive.

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