LWPartners says Dycom shares can double or triple

October 26, 2016 8:28 AM EDT

Speakers, including UK hedge fund Lansdowne Partners Chairman Stuart Roden (3rd R), LW Partners Chairman and Chief Executive Leon Wagner (2nd L) and Hudson Bay Capital Management Chief Executive and Chief Investment Officer Sander Gerber (4th R), take par

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TEL AVIV (Reuters) - LWPartners Chairman "Leon Wagner said on Wednesday shares in telecommunications services provider Dycom Industries Inc (NYSE: DY) could double or triple as strong cash flow, growth in fiber optics and consolidation in the communications industry create upside.

Speaking at the Sohn Conference in Tel Aviv, Wagner said AT&T's (NYSE: T) planned $85.4 billion acquisition of Time Warner would create "massive opportunity" for Dycom.

"As customers consolidate they are interested in dealing with suppliers where they have confidence they will make a call and get something done," he said.

(Reporting by Tova Cohen and Steven Scheer)

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