Cowen Raises Price Target on Lumos Networks (LMOS) Following 3Q Results
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Rating Summary:
9 Buy, 2 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 4 | New: 35
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Cowen reiterated an Outperform rating on Lumos Networks (NASDAQ: LMOS), and raised the price target to $20.00 (from $17.50), following the company's 3Q earnings results. Total revenue was $51.0MM vs. the Street’s $50.5MME. For 2015, mgmt. continues to expect revenue of $202MM (Street's Old: $203.2MM).
Analyst Colby Synesael commented, "Next yr. is shaping up to be a transformational yr. that we believe could result in LMOS 1) acquiring a relatively large fiber co., 2) winning at least one large FTTC deal, and 3) potentially selling its legacy RLEC business. We continue to view LMOS as a PE style investment that may not fully play out until 2017/18 but for those who can be patient we would be aggressive buyers at current levels."
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 $12.83 yesterday.
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