Wells Fargo Downgrades Altice USA to Underweight, Lowers Price Target to $1
Portfolio Pulse from Benzinga Newsdesk
Wells Fargo analyst Steven Cahall downgraded Altice USA (NYSE:ATUS) from Equal-Weight to Underweight and reduced the price target from $2 to $1, indicating a bearish outlook on the stock.
April 05, 2024 | 1:04 pm
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Wells Fargo downgraded Altice USA from Equal-Weight to Underweight and lowered the price target from $2 to $1, suggesting a negative short-term outlook.
The downgrade by a major financial institution like Wells Fargo, especially with a significant reduction in the price target, typically leads to a negative perception among investors. This can result in a decrease in stock price in the short term as market participants adjust their expectations based on the new analyst rating.
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