Altice: RBC Capital Markets reiterates 'outperform' rating.
(CercleFinance.com) - RBC Capital Markets reiterates its "outperform" rating on Altice, with a target price of 30 euros, now that the telecoms group has two listed subsidiaries in France and the US.
Commenting about the group's recent frenzy of acquisitions, RBC thinks that combining telecom and media assets will have a substantial positive impact on earnings.
The broker points out that including the Teads and Media Capital acquisitions, Altice now has about one billion euros of media revenues, out of total group revenues of 23.8 billion euros.
"Steps to combine these assets (...) should create opportunities for superior growth and value creation," RBC adds, while acknowledging that limited evidence to date is likely to make this assertion controversial.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
Commenting about the group's recent frenzy of acquisitions, RBC thinks that combining telecom and media assets will have a substantial positive impact on earnings.
The broker points out that including the Teads and Media Capital acquisitions, Altice now has about one billion euros of media revenues, out of total group revenues of 23.8 billion euros.
"Steps to combine these assets (...) should create opportunities for superior growth and value creation," RBC adds, while acknowledging that limited evidence to date is likely to make this assertion controversial.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.