Raymond James Downgrades Consolidated Communications Holdings Inc. (CNSL) to Outperform
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Raymond James analyst Frank Louthan downgraded Consolidated Communications Holdings Inc. (NASDAQ: CNSL) from Strong Buy to Outperform with a price target of $13.00 (from $17.00).
Louthan said in conjunction with their downgrade of WIN and UNIT, they see the potential of ruling on WIN having a negative impact on CNSL from a trading perspective. They note that they do not believe that there is any real connection with the results at Windstream or the court ruling, however in their experience the rural ILECs tend to trade as a group and overly correlated with each other regardless of their results.
Shares of Consolidated Communications Holdings Inc. closed at $10.27 yesterday.
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