FYBR Alert: Monsey Firm of Wohl & Fruchter Investigating Fairness of the Proposed Sale of Frontier Communications to Verizon

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Go back to FYBR Alert: Monsey Firm of Wohl & Fruchter Investigating Fairness of the Proposed Sale of Frontier Communications to Verizon

MoffettNathanson Downgrades Frontier Communications (FYBR) to Neutral

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