Altice: Bryan Garnier still a buyer after results

(CercleFinance.com) - Bryan Garnier has reinstated its "buy" recommendation on the Altice stock, with a fair value of 13.
9 euros, the day after the telecom group unveiled results that were deemed to be "mixed" for the fourth quarter of 2017.

While revenues slipped by 4% to 5.82 billion euros, adjusted EBITDA actually rose 4.5% to 2.39 billion euros, exceeding the consensus by 5.2%, which the broker explains is mainly due to France and Israel.

The broker says that it sees these results and the targets for 2018 as fully compatible with a medium-term turnaround at Altice Europe. Asset sales also appear to be on track and should act as catalysts for the stock in the near term.


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