Verizon Communications (VZ) Announces ~$15.5B in Wireless, Tower Sales; Approves $5B Accelerated Buyback
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Using History as a Guide, Weakness in American Tower (AMT) is a Buying Opportunity - Canaccord Genuity
February 9, 2015 9:54 AM ESTCanaccord Genuity analyst Gregory Miller reiterated a Buy rating and $120 price target on American Tower (NYSE: AMT) saying all sell-offs over the past 15 years have created a buying opportunity. The analyst said the Verizon tower deal bolsters long-term growth and the integration is... More
Citi Upgrades Frontier Communications (FTR) to Neutral
February 9, 2015 7:12 AM ESTCiti upgraded Frontier Communications (NASDAQ: FTR) from Sell to Neutral.
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 $7.93 yesterday.
... MoreFitch Lowers Outlook on American Tower (AMT) to Negative Following Tower Deal
February 6, 2015 11:20 AM ESTFitch Ratings has affirmed American Tower Corporation's (AMT) 'BBB' Issuer Default Rating (IDR) and 'BBB' senior unsecured notes and credit facilities. The Rating Outlook has been revised to Negative from Stable.
KEY RATING DRIVERS
AMT has announced it has entered into a definitive agreement to acquire the exclusive rights to 11,324 towers and outright acquire 165 towers from Verizon Communications Inc. (Verizon) for approximately $5.1 billion. The exclusive rights will allow AMT to lease and operate such towers for a weighted average term of approximately 28 years, and there are fixed price purchase options to acquire the towers at the end of... More
Frontier Communications (FTR) Price Target Raised to $9 at UBS
February 6, 2015 10:40 AM ESTUBS maintained a Buy rating on Frontier Communications (NASDAQ: FTR) and raised its price target to $9.00 (from $7.25). The change follows its deal to acquire wireline assets from Verizon. Analyst Batya Levi noted it was buying premium assets at an attractive price.
"FTR announced a $10.54B all-cash deal to buy Verizon's wireline properties in CA, TX and FL at an attractive 3.7x multiple (in line with SNET). Included are 6.1M homes passed (54% with... More
S&P Lowers Outlook on American Tower (AMT) to Negative Following Verizon Deal
February 6, 2015 7:54 AM ESTStandard & Poor's Ratings Services revised the outlook to negative from stable and affirmed its 'BBB-' corporate credit rating and senior unsecured debt rating on American Tower Corp. (NYSE: AMT).
"The outlook revision reflects our anticipation that adjusted leverage may increase to... More
