HSBC Downgrades Altice USA to Reduce, Lowers Price Target to $1.2
Portfolio Pulse from Benzinga Newsdesk
HSBC analyst Nicolas Cote-Colisson downgraded Altice USA (NYSE:ATUS) from Buy to Reduce and reduced the price target from $4 to $1.2, indicating a bearish outlook on the company's stock.
November 16, 2023 | 11:05 am
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Altice USA's stock rating was downgraded by HSBC from Buy to Reduce, with a significant decrease in price target from $4 to $1.2, suggesting a pessimistic view on the stock's future performance.
The downgrade by a major financial institution like HSBC, along with a substantial reduction in the price target, is a strong negative signal to the market. This typically leads to a decrease in investor confidence and can result in a short-term decline in the stock price.
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