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The company has reported solid second-quarter earnings. However, it recently witnessed a decline in hedge fund sentiment.
Deutsche Bank (DE:DBKGn) analyst Bryan Kraft has downgraded ATUS to Hold from Buy with a price target of $22, down from $40. In addition, the stock has lost 27.9% in price over the past month and 46.1% over the past three months to close yesterday’s trading session at $18.21. Also, it is currently trading 52.4% below its 52-week high of $38.30, which it hit on December 30, 2020. So, the company’s near-term prospects look uncertain.
