Goldman Sachs Downgrades Frontier Communications (FTR) to Sell, Sees Steep Drop in Synergies

Goldman Sachs downgraded Frontier Communications (NASDAQ: FTR) from Neutral to Sell with a price target of $3.75 (from $4.50).

"We believe the market is not recognizing the steep drop off in synergies in 2013, which will add incremental margin headwinds," the analyst said. "Furthermore, the company's revenue mix shift towards lower margin services continues to weigh on the company's cost structure."

For an analyst ratings summary and ratings history on Frontier Communications click here. For more ratings news on Frontier Communications click here.

Shares of Frontier Communications closed at $4.37 yesterday.

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