UPDATE: Miller Tabak Downgrades Knology, Increases Short-Term PT
According to a research report published earlier today, Miller Tabak has downgraded Knology (NASDAQ: KNOL) from Buy to Neutral, and has increased short-term PT from $17 to $19.
Miller Tabak said in the report, “We are downgrading our recommendation on Knology, Inc. to Neutral from Buy on the shares' increase yesterday on a WSJ report that the company may have hired financial advisors to explore a potential sale of the company. As such, and netting the effect of our modest estimate reductions, we increase our ST target to $19 from $17 but keep out LT $21 DCF-based valuation. As of last year's proxy, the Chairman & CEO Rodger Johnson has 2.2% of the shares (KNOL has a single-class structure), and all officers and directors as a group hold 19.1%.”
Knology is currently trading at $17.56.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.