Pivotal Research Maintains Hold Rating for Altice USA: Here's What You Need To Know

Pivotal Research has decided to maintain its Hold rating of Altice USA ATUS and lower its price target from $4.50 to $3.00.

Shares of Altice USA are trading up 3.97% over the last 24 hours, at $2.88 per share.

A move to $3.00 would account for a 4.17% increase from the current share price.

About Altice USA

Altice Europe acquired privately held U.S. cable company Suddenlink in 2015 and Cablevision in 2016. Suddenlink's networks provided television, internet access, and phone services to roughly 3.5 million U.S. homes and businesses located primarily in smaller markets, with major clusters in Texas, West Virginia, Idaho, Arizona, and Louisiana. Cablevision provided comparable services to about 5.5 million homes and business in the New York City metro area. Altice Europe spun off Altice USA, which includes both the Suddenlink and Cablevision operations, to shareholders in 2018. Altice USA also owns News 12 Networks, which broadcasts local 24-hour news networks in New York, i24News, a news operation focused on the Middle East and Israel, and Cheddar, a news upstart.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.