UPDATE: Gabelli Upgrades Frontier Communications (FTR) to Buy; Solid Q2

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(Updated - August 2, 2012 12:00 PM EDT)

Gabelli upgraded Frontier Communications (NASDAQ: FTR) from Hold to Buy.

Gabelli analyst said, "We are moving to Buy, given continued improvement in access line loss and revenue trends as well as solid progress on synergies realization from the Verizon lines acquisition. We expect FTR, with systems conversions already
completed and more disciplined pricing, to improve further on the above trends in the next few years, as it introduces new products and increases broadband penetration in the acquired properties."

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 $4.34 yesterday, with a 52 week range of $3.06-$7.58.

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