03:40 PM EDT, 04/05/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We lower our 12-month target price by $1 to $3, applying an EV/EBITDA multiple of 7.5x to our 2024 estimate, a discount to its five-year historical average multiple at 8.5x, reflecting our slower growth outlook. We trim our 2024 EPS estimate by $0.02 to $0.34 and lower our 2025 EPS estimate by $0.04 to $0.37. While Altice reported positive net fiber additions in Q4, we see competitive pressure impacting this area of the business more intensely in Q1. In addition, we expect further broadband net customer losses this year due to intense competition from peers, as well as alternatives like fixed wireless access. We are also concerned that the company's balance sheet will continue to deteriorate, with its net debt to adjusted EBITDA currently sitting at 6.8x.