Gabelli Has Buy on Cincinnati Bell

Gabelli & Co. is out with a research report on Cincinnati Bell, Inc. CBB and it has a Buy rating on shares. In a note to clients, Gabelli & Co. writes, "On November 3rd, Cincinnati Bell reported 3Q'11 consolidated revenues that exceeded our expectations and adjusted EBITDA that was slightly below our estimates. Most of the beat came from lower margin Telecom & IT Equipment Distribution business, where revenues increased by $12 mm year-over-year." Shares of CBB closed at $3.26 yesterday.