UPDATE: Hudson Square Research Downgrades TW Telecom to Hold, Reiterates $27 PT Following 1Q Results Miss

In a report published Wednesday, Hudson Square Research analyst Todd Rethemeier downgraded the rating on TW Telecom TWTC from Buy to Hold, but reiterated the $27.00 price target. In the report, Rethemeier noted, “tw telecom reported 1Q results yesterday that missed our estimates on both revenue and EBITDA. Annual revenue growth dropped to 6%, the slowest in over two years. While we expect that management will be able to reaccelerate that growth in the medium-term, we think it is time to take profits in the stock and are downgrading from Buy to Hold.” TW Telecom closed on Tuesday at $27.19.