Altice USA Inc (ATUS) Shares Down 0% on Analyst Downgrade

Shares of Altice USA Inc (NYSE:ATUS) traded down 0% on Tuesday after Morgan Stanley lowered their price target on the stock from $32.00 to $25.00. Morgan Stanley currently has an equal weight rating on the stock. Altice USA traded as low as $18.73 and last traded at $19.40. 4,668,545 shares traded hands during trading, an increase of 161% from the average session volume of 1,790,000 shares. The stock had previously closed at $19.40.

ATUS has been the subject of a number of other reports. Goldman Sachs Group, Inc. (The) assumed coverage on Altice USA in a research report on Monday, July 17th. They set a “neutral” rating and a $33.00 price objective for the company. Deutsche Bank AG assumed coverage on Altice USA in a research report on Monday, July 17th. They set a “buy” rating and a $36.00 price objective for the company. Moffett Nathanson raised Altice USA from a “neutral” rating to a “buy” rating in a research report on Friday, November 10th. Wells Fargo & Company assumed coverage on Altice USA in a research report on Wednesday, July 26th. They set a “market perform” rating and a $34.00 price objective for the company. Finally, Guggenheim reaffirmed a “neutral” rating and set a $31.00 price objective on shares of Altice USA in a research report on Friday, September 15th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $33.36.

Several hedge funds have recently modified their holdings of ATUS. Canada Pension Plan Investment Board purchased a new position in shares of Altice USA during the 2nd quarter worth approximately $1,296,928,000. Franklin Resources Inc. purchased a new position in shares of Altice USA during the 2nd quarter worth approximately $69,443,000. Vanguard Group Inc. purchased a new position in shares of Altice USA during the 2nd quarter worth approximately $67,939,000. Egerton Capital UK LLP purchased a new position in shares of Altice USA during the 2nd quarter worth approximately $64,600,000. Finally, FMR LLC purchased a new position in shares of Altice USA during the 2nd quarter worth approximately $57,079,000.

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Altice USA Company Profile

Altice USA, Inc is engaged in providing broadband communications and video services in the United States. The Company’s segments include Cablevision and Cequel. Cablevision provides broadband, pay television and telephony services to residential and business customers in and around the New York metropolitan area.

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