UPDATE: Stifel Nicolaus Upgrades Windstream Communications to Buy; Sell-Off Overdone
Stifel Nicolaus raises its rating on Windstream Corporation (NASDAQ: WIN) from Hold to Buy and establishes a price target of $11.
Stifel Nicolaus notes, "We are upgrading our rating on the shares of Windstream, following a more than 16% correction in the shares over the course of the past four trading days (versus a 1.8% decline in the S&P 500), following the company's 1Q12 earnings report. The bulk of investors' consternation appears to come from an issue related to the company's PAETEC asset in the quarter, by which the company, which had been experiencing some carrier billing disputes related to certain wholesale products, made the decision to modify and suspend the sale of these products."
WIN closed at $9.41 on Tuesday.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.