Altice: Bryan Garnier cuts target price, but still a buyer.
(CercleFinance.com) - Bryan Garnier has reduced its fair value for the Altice share from 23.
7 euros to 22.8 euros, but maintains its “buy” rating on the stock, supported mainly by a positive outlook in the US and despite conservative assumptions in France.
The broker is updating the Altice file because of recent events that have affected the share, for example, citing the acquisition of new sports rights, the dollar's depreciation and rumours of a merger with Charter Communication.
Bryan Garnier also reminds investors that Alcatel has just launched a 1 billion euro share buyback program through to the end of August 2018, a program that represents 4% of its capital, which it believes will help boost the share.
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.
7 euros to 22.8 euros, but maintains its “buy” rating on the stock, supported mainly by a positive outlook in the US and despite conservative assumptions in France.
The broker is updating the Altice file because of recent events that have affected the share, for example, citing the acquisition of new sports rights, the dollar's depreciation and rumours of a merger with Charter Communication.
Bryan Garnier also reminds investors that Alcatel has just launched a 1 billion euro share buyback program through to the end of August 2018, a program that represents 4% of its capital, which it believes will help boost the share.
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.