Altice: Bryan Garnier still a buyer, but cuts target price

(CercleFinance.com) - Bryan Garnier has confirmed its "buy" rating on Altice, although has cut its fair value for the stock from 14.
9 euros to 13.9 euros the day after the group announced reorganisational measures, with a structural separation of Altice USA from Altice NV.

"The operation is positive from a technical standpoint, but further upside at the European level will need sustainable operational improvement, which should take several more quarters," the broker said.

Bryan Garnier says it is adopting a more cautious view of France, which has led it to reduce its target price for the Altice share, although it maintains its buy rating on the stock, given its low valuation.


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