Oppenheimer Lowers TW Telecom Estimates

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TW Telecom, Inc. (NASDAQ: TWTC) reported financials “below our estimates/consensus primarily on disconnects from two large customers,” Oppenheimer reports.“TWTC remains a unique nationwide facilities-based emerging communications company,” Oppenheimer writes. “However, the stock will likely trade down tomorrow on concerns about the flow-through impact of customer disconnects, bad debt expense, higher cap-ex and lack of communication.”Oppenheimer said that TWTC trades at a premium 8x EV/EBITDA multiple, adding, “Positively, bookings are strong and the company is leveraged to an improving economy.”Oppenheimer has lowered its 2010/2011 EPS estimates to $0.36/$0.41 from $0.38/$0.50.TW Telecom currently trades at $18.96.

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