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ATUS

Altice USA

$20.05

-0.45 (-2.20%)

07:24
03/20/18
03/20
07:24
03/20/18
07:24

Altice USA initiated with a Buy at Buckingham

Buckingham analyst Matthew Harrigan initiated Altice USA with a Buy and $30 price target saying it has the most affluent US cable footprint with nearly 65% of customers in the NYC Metro area Optimum footprint. Harrigan believes valuation discount from the $35 peak in June is excessive given cost reductions and disappating capital call issue from European sister company Altice NV with the Q2 spinoff of its Altice USA stake.

ATUS Altice USA
$20.05

-0.45 (-2.20%)

02/09/18
MSCO
02/09/18
NO CHANGE
Target $35
MSCO
Equal Weight
Lionsgate progress with Altice could help FY19, says Morgan Stanley
Lionsgate analyst Benjamin Swinburne noted that Lionsgate's (LGF.A) Q3 results were broadly in-line with expectations, although Starz subscriber metrics were lower than expected and the company lowered its three year growth expectation to mid to high single digits. However, Lionsgate mentioned on its earnings call that it continues to talk to Altice (ATUS) and hopes an agreement can be reached "imminently," which could be a benefit to FY19, noted Swinburne, who keeps an Equal Weight rating and $35 price target on Lionsgate shares.
03/06/18
RBCM
03/06/18
NO CHANGE
Target $31
RBCM
Outperform
Altice USA price target lowered to $31 from $35 at RBC Capital
RBC Capital analyst Jonathan Atkin lowered his price target on Altice to $31, citing the dividend impact and net operating loss valuation related to the spinoff of the U.S. unit from the parent company. Atkin keeps his Outperform rating however, saying the company's Q4 financials were in line while the RGUs were better than expected. The analyst believes that the spin-off will also address investors' concerns about the company's structure and margin sustainability.
03/13/18
GSCO
03/13/18
UPGRADE
Target $28
GSCO
Conviction Buy
Altice USA upgraded to Conviction Buy from Buy at Goldman Sachs
Goldman analyst Brett Feldman added Altice USA to the Conviction Buy List with a $28 price target based on solid fundamentals and attractive valuation, capital return potential from the spin-off from Altice NV, and overstated concerns regarding rising interest rates on the company's capital structure.
03/13/18
03/13/18
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Altice USA (ATUS) upgraded to Conviction Buy from Buy at Goldman Sachs with analyst Brett Feldman citing solid fundamentals and attractive valuation, capital return potential from the spin-off from Altice NV, and overstated concerns regarding rising interest rates on the company's capital structure. 2. Total (TOT) upgraded to Overweight from Equal Weight at Barclays with analyst Lydia Rainforth saying she sees the company continuing to win in the Middle East. 3. M.D.C. Holdings (MDC) upgraded to Buy from Sell at UBS with analyst Daniel Oppenheim saying he believes the company can lift its return on equity to 12.0% in 2019 driven by recent investments in land and greater capital utilization. 4. Centennial Resource Development (CDEV) upgraded to Outperform from Market Perform at BMO Capital with analyst Dan McSpirit citing a valuation opportunity that is now in line with its Permian peers following some recent "sponsorship selling" for a company that is executing with a "top-tier" growth rate. 5. Noble Energy (NBL) upgraded to Buy from Hold at Argus with analyst Bill Selesky saying the company is positioned to benefit from "improving industry fundamentals, including reduced production from OPEC members." This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

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PHII

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AAPL

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MCHVF

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WMB

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$30.38

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AMZN

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LCI

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