03:35 PM EDT, 05/02/2024 (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 trim our 12-month target price by $0.50 to $2.50, applying an EV/EBITDA multiple of 7.5x to our 2024 estimate, comparable to its three-year historical average multiple at 7.3x, reflecting recent solid results. We raise our 2024 EPS estimate by $0.05 to $0.39 and increase 2025's by $0.06 to $0.43. ATUS reported a Q1 GAAP loss of $0.05 vs. EPS of $0.06, $0.06 below the consensus. Q1 revenue declined 1.9%. Results were 1) driven by a 2.9% drop in Residential revenue due to a lower subscriber base and an increase in video customer losses; 2) partially offset by 0.3% growth in Business Services; 3) supported by a 3.6% increase in Lightpath Business; and 4) due to 7.1% growth in Advertising, driven by political spending. Broadband net losses were 29.4k, with 77.7k video losses and 63.1k telephony net losses. We are concerned that ATUS will continue to experience broadband customer losses, due to intensifying competition, as well as the expiration of the Affordable Connectivity Program.