Lumos Networks (LMOS) Sell-Off on Shift Offers a Buying Opportunity for Certain Investors, Cowen Said
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Rating Summary:
9 Buy, 2 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 36
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Lumos Networks (NASDAQ: LMOS) is selling off sharply today (-7.2%) following results and a $150M investment from private-equity firm Pamplona. However, Cowen Colby Synesael said the stock is a buy for investors with a certain profile.
"Lumos announced that a private-equity firm has agreed to invest $150MM of capital into the company that in our view turns Lumos itself into a private-equity style investment," Synesael commented. "As such, for investors where such an investment style makes sense we would be aggressive buyers at current levels as we believe the sell-off tied to the shift in investment style is creating a large buying opportunity."
The firm maintained am Outperform price target of $21.00
For an analyst ratings summary and ratings history on Lumos Networks click here. For more ratings news on Lumos Networks click here.
Shares of Lumos Networks closed at $13.99 yesterday.
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