Altice Europe: Barclays cuts rating to 'underweight'
(CercleFinance.com) - Barclays has downgraded its rating on the Altice stock from "equal weight" to "underweight," as the broker takes a more cautious stance on French telecom services in 2019.
In a note to clients, Barclays estimates that the Altice share prices in "substantial" M&A.
However, although market concentration is the best option, Barclays believes that such a scenario appears unlikely in the near term.
Alongside this downgrade it is also reducing its target price on the share from 2.8 euros to 1.5 euro.
The share is currently down 9.3% at 1.9 euros, after stockmarket operator Euronext said that Altice will leave the AEX, Amsterdam's blue-chip index, on Monday 18 March.
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