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Altice: BarCap still 'equal weight' but cuts target price.

(CercleFinance.com) - Barclays Capital has reiterated its "equal weight" rating on the Altice share, while cutting its target price to 9 euros, saying that the European telecoms group needs to "focus on execution.

Despite collapsing 55% since the most recent results, BarCap still does not think that the stock is as attractive as its European peers.

"To rerate, Altice would likely need to demonstrate it can fix its European assets and deliver superior growth which we believe could take time," the broker writes in a report.

Barclays thinks that the group's high leverage is manageable, although warns that it could lead to the shares becoming highly volatile.

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