Altice USA Inc Class A

ATUS: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$7.00	Klrzvy	Fms

Altice USA Earnings: Small Operational Improvements Lend Needed Stability to Profitability

Michael Hodel

Nov 2, 2023

Altice USA took another small step forward during the third quarter. Customer trends are showing gradual improvement as the new management team implements new marketing and customer service tactics. While the stock remains deeply undervalued against our $13 fair value estimate, we remain cautious, as our Very High Morningstar Uncertainty Rating reflects. For investors who share our view that valuations among U.S. cable stocks are attractive, we think Altice could augment a core position in Comcast for those willing to take on additional risk in exchange for upside potential.

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