Market Overview

UPDATE: Oppenheimer Downgrades Inteliquent to Underperform on Weak Guidance and Quarter

Share:
Related IQNT
Mid-Day Market Update: Tuesday's Movers, China's Growth Worries And More
Benzinga's Volume Movers
Sprint Perks Up Investment, Jobs in Chicago to Boost Network (Zacks)

Oppenheimer lowered its rating on Inteliquent (NASDAQ: IQNT) from Perform to Underperform.

Oppenheimer noted, "We are downgrading IQNT to Underperform from Perform on poor fundamentals, limited visibility and no near-term catalysts. The company reported very disappointing results for the second quarter in a row and gave 4Q12 EBITDA guidance 75% below 1H12's run rate, a drop we have never witnessed in 18 years of following service companies. IQNT is confronting other issues as well, such as weak pricing and volumes in IP transit, issues related to its DID termination voice product, increasing competition and the ability for customers to direct connect. We believe there is no visibility in the financial model and have cut ‘13E adjusted EBITDA to ~$30M (from $71M)."

Inteliquent closed at $4.47 on Wednesday.

Latest Ratings for IQNT

DateFirmActionFromTo
Aug 2015BWS FinancialUpgradesBuyStrong Buy
Jul 2014Raymond JamesMaintainsOutperform
May 2014BWS FinancialUpgradesHoldBuy

View More Analyst Ratings for IQNT
View the Latest Analyst Ratings

Posted-In: OppenheimerAnalyst Color Downgrades Pre-Market Outlook Analyst Ratings

 

Related Articles (IQNT)

View Comments and Join the Discussion!

Get Benzinga's Newsletters