DA Davidson Starts Hawaiian Telcom Holdco (HCOM) at Buy; Telco Turnaround Story
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Price: $14.55 --0%
Rating Summary:
0 Buy, 2 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
0 Buy, 2 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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DA Davidson initiates coverage on Hawaiian Telcom Holdco (NASDAQ: HCOM) with a Buy. PT $29.00.
DA analyst said, "HCOM only emerged from bankruptcy in late 2010 and recently moved from the pink sheets to the NASDAQ, which should lead to better trading liquidity. The top debt holders during bankruptcy still own ~59% of the stock, so there is still a risk to the stock price if the debt holders exit the stock. However, we view the current share price as a buying opportunity given the turnaround potential for the stock."
"As HCOM rolls out IPTV, we expect them to target the most promising residential neighborhoods first, which could lead to better than expected subscriber results. Near-term growth from FTTT contracts should help stabilize revenues, and IPTV could help win back residential customers. We think the stock offers ~20% upside as its story becomes more widely known."
For more ratings news on Hawaiian Telcom Holdco click here and for the rating history of Hawaiian Telcom Holdco click here.
Shares of Hawaiian Telcom Holdco closed at $24.10 yesterday.
DA analyst said, "HCOM only emerged from bankruptcy in late 2010 and recently moved from the pink sheets to the NASDAQ, which should lead to better trading liquidity. The top debt holders during bankruptcy still own ~59% of the stock, so there is still a risk to the stock price if the debt holders exit the stock. However, we view the current share price as a buying opportunity given the turnaround potential for the stock."
"As HCOM rolls out IPTV, we expect them to target the most promising residential neighborhoods first, which could lead to better than expected subscriber results. Near-term growth from FTTT contracts should help stabilize revenues, and IPTV could help win back residential customers. We think the stock offers ~20% upside as its story becomes more widely known."
For more ratings news on Hawaiian Telcom Holdco click here and for the rating history of Hawaiian Telcom Holdco click here.
Shares of Hawaiian Telcom Holdco closed at $24.10 yesterday.
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