Pivotal Research analyst Jeffrey Wlodarczak downgraded Altice USA to Hold from Buy with a price target of $5, down from $15. The company reported a “frankly disappointing 3Q result across the board,” Wlodarczak tells investors in a research note. Altice appears to be getting hit by fixed wireless access and fiber-to-the-home and the prospects for a return to growth “appear pretty limited over the next several years,” says the analyst. Wlodarczak believes the company “very much remains in the penalty box” and that it will likely take most of 2023 “to get the ship righted.”