Market Overview

UPDATE: Piper Jaffray Downgrades Windstream Corporation to Underweight, Lowers PT

Share:
Related WIN
Benzinga's Top Downgrades
Earnings Scheduled For August 4, 2016

In a report published Wednesday, Piper Jaffray & Co. downgraded its rating on Windstream Corporation (NASDAQ: WIN) from Neutral to Underweight, and lowered its price target from $8.00 to $6.50.

Piper Jaffray noted, “We are downgrading Windstream to Underweight as we believe there is limited upside to owning the stock. The company has failed to meet expectations in 2012, with management having lowered guidance on the 3Q print. Investors remain concerned about dividend sustainability, which continues to weigh heavily on the shares. Not only is Windstream failing to get credit for one of the highest dividend yields, we believe the high dividend yield makes it even more vulnerable to any dividend taxation policy changes. We do believe that trends can improve at Windstream, but probably not fast enough. In our opinion, Windstream is less attractive than other rural wireline operators”

Windstream Corporation closed on Tuesday at $8.31.

Latest Ratings for WIN

DateFirmActionFromTo
Aug 2016Raymond JamesDowngradesMarket PerformUnderperform
Jul 2016JefferiesMaintainsUnderperform
Jul 2016CitigroupReinstatesNeutral

View More Analyst Ratings for WIN
View the Latest Analyst Ratings

Posted-In: Piper Jaffray & Co.Analyst Color Downgrades Analyst Ratings

 

Related Articles (WIN)

View Comments and Join the Discussion!