Citigroup's latest research report shows that it has downgraded its investment rating for Optimum Communications Inc. from "Buy" to "Neutral".
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Meanwhile, the institution has also significantly lowered the company's target stock price from the previous $2.75 to $1.9. This rating adjustment reflects Citi's cautious outlook on Optimum Communications' future performance. The target price cut of over 30% indicates that analysts believe the company is currently facing certain market challenges or operational pressures.
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