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Fly News Breaks for February 13, 2020
Feb 13, 2020 | 07:25 EDT
Raymond James analyst Frank Louthan upgraded Altice USA (ATUS) to Strong Buy from Outperform with a price target of $35, up from $32, following the company's Q4 results. In a research note to investors, Louthan says Altice represents a strong FCF growth story over the next few years as management has removed cost and can begin to reap the benefits of network upgrades, SME expansion, advertising and mobile. Following this week's court ruling suggesting an imminent approval of the Sprint (S)/T-Mobile (TMUS) merger, the analyst says he is now more confident in the future prospects of the Sprint MVNO, as a combined company will likely prove to be an even stronger partner for Altice going forward.
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