Nomura Securities Maintains a 'Buy' on Frontier Communications (FTR); Raising Estimates on Improved Execution
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Price: $0.26 --0%
Rating Summary:
6 Buy, 11 Hold, 8 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
6 Buy, 11 Hold, 8 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Nomura Securities maintains a 'Buy' on Frontier Communications (NASDAQ: FTR) price target of $5.00.
Analyst, Mike McCormack, said, "FCF was hit by higher core capital spending and working capital, but we expect these headwinds to reverse as the year progresses. Improving operating fundamentals and a supportive dividend pay-out versus peers reassures us about the company’s path to improving costs and free cash flow, while managing shareholder return. We believe that FTR’s dividend yield can move closer to the peer group and carry an FCF multiple that reflects an appropriate discount given more challenging rates of revenue decline. Our 2012E EPS goes from $0.22 to $0.31."
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 $3.61 yesterday.
Analyst, Mike McCormack, said, "FCF was hit by higher core capital spending and working capital, but we expect these headwinds to reverse as the year progresses. Improving operating fundamentals and a supportive dividend pay-out versus peers reassures us about the company’s path to improving costs and free cash flow, while managing shareholder return. We believe that FTR’s dividend yield can move closer to the peer group and carry an FCF multiple that reflects an appropriate discount given more challenging rates of revenue decline. Our 2012E EPS goes from $0.22 to $0.31."
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 $3.61 yesterday.
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