Should You Buy the Dip in Altice USA? -Breaking
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© Reuters. Are You a Buyer of the Dip in Altice USAAlthough broadband communication company Altice USA (ATUS), reported strong second-quarter earnings last quarter, the company still faces intense competition. So, let’s find out if it is wise to buy the dip in the stock now. Continue reading. Broadband communication company Altice USA, Inc., (ATUS), is located in Bethpage, N.Y. It has seen a significant increase in its revenue, thanks largely to advertising. As the first step in aligning all of its connectivity brands under one Optimum brand, it launched its new Optimum mobile brand.
Solid second quarter earnings were reported by the company. The company recently saw a drop in hedge fund sentiment.
Deutsche Bank Bryan Kraft, analyst at DE: has downgraded ATUS from Hold to Buy. The price target is $22, which is down from $40. In addition, the stock has lost 27.9% in price over the past month and 46.1% over the past three months to close yesterday’s trading session at $18.21. It is trading at 52.4% under its 52-week peak of $38.30. This was reached on December 30, 2020. So, the company’s near-term prospects look uncertain.
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