Jefferies Downgrades Frontier Communications (FTR) to Hold
- David Tepper Talks Bonds, Stocks, Fannie/Freddie, Bill Gross and More
- CDC confirms first Ebola case diagnosed in the U.S. (TKMR)
- ADP Employment Change 213K vs 205K Expected
- Vivint Solar (VSLR) IPO Opens Modestly Higher
- Pre-Open Stock Movers 10/01: (TKMR) (HEB) (ANGI) Higher; (FNMA) (FMCC) (WPRT) Lower (more...)
Jefferies downgraded Frontier Communications (NASDAQ: FTR) from Buy to Hold citing limited upside to their price target of $6.00.
Analyst Mike McCormack comments, "We are downgrading shares of FTR from Buy to Hold as we see limited upside to our $6 price target following recent share outperformance (+41.2% LTM vs. the S&P +20.6%), which reflected an improving fundamental story, a market rotation to value-oriented names, and the potential for favorable tax legislation. Shares now trade above historic EV/EBITDA levels while the dividend yield spreads relative to peers and treasuries are near lows."
Shares of Frontier Communications closed at $5.72 yesterday.
You May Also Be Interested In
- UPDATE: Credit Suisse Downgrades Rush Enterprises Inc. (RUSHA) to Neutral
- Credit Suisse Starts ARAMARK Holdings (ARMK) at Outperform
- UPDATE: Credit Suisse Downgrades Tuesday Morning (TUES) to Neutral
Create E-mail Alert Related CategoriesAnalyst Comments, Downgrades
Related EntitiesJefferies & Co, Standard & Poor's, Dividend
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!