Janney Montgomery Scott Starts General Communication (GNCMA) at Buy
Earlier, Janney Montgomery Scott initiates coverage on General Communication Inc. (Nasdaq: GNCMA) with a Buy rating and $13 price target.
The firm said, "General Communications as an Alaskan integrated communications service provider has avoided a number of the pitfalls of many of the mainland states' 48 cable and competitive local exchange carrier (CLEC) counterparts in terms of network architecture and in service branding. The Alaskan market has its own unique characteristics and high barriers to entry. GCI has a strong market position in the cable television market and long-distance and an increasing share in CLEC and wireless. We believe that the low population density and severe Alaskan climate make the market an unattractive economic proposition for new entrants."
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