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Altice USA gains after Bernstein upgrade for 'cheap stock' of solid business

Oct. 05, 2020 8:57 AM ETAltice USA, Inc. (ATUS) StockATUSBy: Brandy Betz, SA News Editor
  • Bernstein upgrades Altice USA (NYSE:ATUS) from Market Perform to Outperform and a $34 price target.
  • Analyst Peter Supino calls ATUS a "cheap stock of a solid business" with the "absolute and relative valuation multiples stand at all-time lows."
  • Supino says Altice's "underlying fundamentals bottomed earlier in 2020" and thinks the Q3 results in early November will be a "positive step in the gradual process of rebuilding investor trust and engagement."
  • ATUS shares are up 4.8% pre-market to $27.30.

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