Jefferies Starts Frontier Communications (FTR) at Buy, Believes Dividend Is Secure

November 17, 2011 7:21 AM EST
Get Alerts FTR Hot Sheet
Price: $3.55 --0%

Rating Summary:
    14 Buy, 10 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 10 | Down: 16 | New: 54
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Jefferies initiates coverage on Frontier Communications (NYSE: FTR) with a Buy. PT $7.00.

"We believe the risk is worth the reward in the case of Frontier."

The firm notes that while progress has been slower than anticipated, "our view is that Frontier management will ultimately succeed in stabilizing EBITDA." The firm believes Frontier's dividend is secure, and that investors buying at current levels (13% yield) will be richly rewarded.

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 $5.33 yesterday.

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