Raymond James Downgrades Frontier Communications (FTR) to Market Perform
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Raymond James analyst Frank Louthan downgraded Frontier Communications (NASDAQ: FTR) from Outperform to Market Perform.
Louthan notes in conjunction with their downgrade of WIN and UNIT, they see the potential of ruling on WIN having a negative impact on FTR 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 Frontier Communications closed at $2.59 yesterday.
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