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UPDATE: Citigroup Upgrades US Cellular Corporation to Buy, Reiterates $42 PT

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Earnings Scheduled For November 4, 2016
Investors Happy With U.S. Cellular Q2 Beat

In a report published Monday, Citigroup upgraded its rating on United States Cellular Corporation (NYSE: USM) from Neutral to Buy, and reiterated its $42.00 price target.

Citigroup noted, “We view the sale by USM of wireless assets within its Midwest cluster as positive evidence that the management team is increasingly recognizing its scale disadvantage when competing against the much larger national carriers. While we don't expect an outright sale of U.S. Cellular or TDS in the near-term, we are very encouraged by the nature of the transaction and the idea that USM is willing to sell operating markets, as the ability to effectively compete against the larger national carriers is becoming more difficult.”

United States Cellular Corporation closed on Friday at $34.39.

Latest Ratings for USM

DateFirmActionFromTo
Jan 2016JP MorganDowngradesOverweightNeutral
Aug 2014Raymond JamesUpgradesOutperformStrong Buy
Mar 2014JP MorganUpgradesNeutralOverweight

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Posted-In: CitigroupAnalyst Color Upgrades Analyst Ratings

 

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