Verizon closes in on deal for Frontier Communications: WSJ
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September 5, 2024 10:18 AM EDT
MoffettNathanson analyst Nicholas R. Del Deo downgraded Frontier Communications (NASDAQ: FYBR) from Buy to Neutral with a price target of $38.50 (from $30.00).
The analyst comments "This morning, Verizon announced that it had agreed to acquire Frontier for $38.50 in cash per share, formalizing yesterdays report from the Wall Street Journal that a deal was imminent. This announcement prompts us to downgrade Frontier from Buy to Neutral, while raising our target price to equal the deal price. Earlier this... More
September 5, 2024 7:42 AM EDT
Citi analyst Michael Rollins reiterated a Buy rating and $47.00 price target on Verizon Communications (NYSE: VZ).
The analyst comments "Verizon announced the acquisition of Frontier (FYBR) for $38.50 per share in an all-cash deal. Run-rate cost synergies established at $500 million. Verizon reaffirmed 2024 guidance and... More
September 5, 2024 7:24 AM EDT
MoffettNathanson on Verizon Communications (NYSE: VZ) bid for Frontier Communications (NASDAQ: FYBR): 'It's a terrible Idea'
The analyst comments "Were not sure theres much to say about a reportedly imminent Verizon acquisition of Frontier that isnt obvious so lets start with the obvious. Its a terrible idea. If there is a... More
