D.A. Davidson Comments on Windstream
D.A. Davidson provided color on Windstream (NASDAQ: WIN) in a research report published today. D.A. Davidson has a Buy rating and $14.25 price target on the company.
In the report, D.A. Davidson stated, "We recently travelled with WIN's CFO and came away with increased confidence that management will maintain the $1.00 dividend longer term. We think WIN's payout ratio from free cash flow will be 67% in 2012 (including $177 million in one-time items), 81% in 2013 as cash taxes ratchet up, but should decline back to a 65%-70% payout in 2014. Management is very comfortable with the dividend payout in the 65%-70% range."
Shares of Windstream closed today at $9.39, down 1.58% from Wednesday's market close.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.