Dougherty & Co Starts Earthlink (ELNK) at Buy; Acquisitions Position Company for Growth
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Price: $5.63 --0%
Rating Summary:
4 Buy, 2 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
4 Buy, 2 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Dougherty & Co initiates coverage on Earthlink (NASDAQ: ELNK) with a Buy. PT $9.50.
Analyst, Mark Kelleher, said, "Over the last 12 months the company has made a number of strategic acquisitions that we believe will contribute significantly to revenue growth and increased profitability: ITC Deltacom, One Commmunications, and STS Communications have all been announced in the last year, for a total expenditure of over $900M. These acquisitions move the company away from its consumer services (declining) customer base towards a business services (increasing) customer base."
For more ratings news on Earthlink click here and for the rating history of Earthlink click here.
Shares of Earthlink closed at $7.07 yesterday.
Analyst, Mark Kelleher, said, "Over the last 12 months the company has made a number of strategic acquisitions that we believe will contribute significantly to revenue growth and increased profitability: ITC Deltacom, One Commmunications, and STS Communications have all been announced in the last year, for a total expenditure of over $900M. These acquisitions move the company away from its consumer services (declining) customer base towards a business services (increasing) customer base."
For more ratings news on Earthlink click here and for the rating history of Earthlink click here.
Shares of Earthlink closed at $7.07 yesterday.
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