Jefferies Cuts Price Target on NII Holdings (NIHD) to $1.50; Reiterates Underperform
- Noble Energy (NBL) to Acquire Clayton Williams Energy (CWEI) for $2.7B in Cash and Stock
- Nasdaq hits record; bank earnings validate Wall St. rally
- UnitedHealth Group (UNH) Tops Q4 EPS by 4c; Affirms Outlook
- Intrawest Resorts (SNOW) Exploring a Possible Sale - Reuters
- Alibaba (BABA) Has No Plans to Acquire Rest of Groupon (GRPN) - Source
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."
Shares of NII Holdings closed at $1.90 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Goldman Sachs Upgrades Yum China Holdings (YUMC) to Buy, Sees Selloff As Buying Opportunity Ahead Of Q4 Report
- Mizuho Maintains Buy On GameStope (GME), Says "We Remains Buyers"
- Goldman Sachs Upgrades Walt Disney (DIS) to Buy
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change
Related EntitiesJefferies & Co, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!