Citi downgraded Optimum Communications (OPTU) to Neutral from Buy with a price target of $1.90, down from $2.75. While Optimum showed some positive financial progress in the quarter, its key performance indictors and management commentary point towards a more competitive broadband market so the operational turnaround is likely to take longer, the analyst tells investors.
Claim 30% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on OPTU:
- Altice USA Earnings Call: Margins Up, Growth Tested
- Optimum Communications price target lowered to $2 from $2.50 at Evercore ISI
- Sell Recommendation on Optimum Driven by Persistent Revenue Erosion, Execution Risks, and Unsustainable Leverage
- Buy Rating on Optimum Driven by Margin Expansion, Operational Momentum, and Improved Broadband Trends
- Optimum Communications reports Q4 EPS (15c) vs. (12c) last year