Jefferies Cuts Price Target on NII Holdings (NIHD) to $1.50; Reiterates Underperform

November 23, 2016 9:39 AM EST
Get Alerts NIHD Hot Sheet
Price: $3.10 --0%

Rating Summary:
    2 Buy, 6 Hold, 10 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 10 | Down: 6 | New: 3
Trade NIHD Now!
Join SI Premium – FREE

Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.

Jefferies maintained an Underperform rating on NII Holdings (NASDAQ: NIHD), and cut the price target to $1.50 (from $2.00), following the company's 3Q earnings report.

Analyst Mike McCormack commented, "Third quarter results showed better subscriber losses, largely driven by lower churn, though revenue was lower given F/X volatility. Nevertheless, a disciplined focus on cost cutting drove the second consecutive quarter of positive EBITDA. While we recognize signs of stabilization, we remain concerned given macro and competitive pressures, the path to sustainable free cash flow generation, and liquidity. We lower our price target to $1.50 from $2.00."

For an analyst ratings summary and ratings history on NII Holdings click here. For more ratings news on NII Holdings click here.

Shares of NII Holdings closed at $1.90 yesterday.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Analyst EPS Change, Analyst PT Change

Related Entities

Jefferies & Co, Earnings

Add Your Comment