Market Overview

UPDATE: DA Davidson Reduces PT to $16.50 on Consolidated Communications Holdings on Higher Cost Debts

Related CNSL
Mid-Afternoon Market Update: OncoCyte Drops Following Q3 Results; Sorl Auto Parts Shares Jump
Mid-Day Market Update: YY Climbs After Strong Q3 Results; SandRidge Energy Shares Plummet

DA Davidson lowers its price target on Consolidated Communications Holdings (NASDAQ: CNSL) from $19 to $16.50 as it keeps shares at a Neutral rating.

DA Davidson says, "With the proposed acquisition of SURW, CNSL improves its mix of businesses toward less regulated, higher growth areas. We think CNSL will sustain its dividend through 2013, but with likely higher interest costs exiting 2014, we are hesitant to get more aggressive on the stock until we see how the SURW integration goes. We maintain our NEUTRAL rating, but our price target falls to $16.50 from $19.00 due to the decline in valuations for the rural telco group. Our $16.50 price target equates to 6.5x our 2013 pro-forma EV/EBITDA estimate."

CNSL closed at $15.83 on Tuesday.

Latest Ratings for CNSL

Nov 2017JefferiesMaintainsHold
Jun 2017CitigroupUpgradesSellNeutral
Mar 2017Raymond JamesUpgradesMarket PerformOutperform

View More Analyst Ratings for CNSL
View the Latest Analyst Ratings

Posted-In: DA DavidsonAnalyst Color Price Target Reiteration Pre-Market Outlook Analyst Ratings


Related Articles (CNSL)

View Comments and Join the Discussion!

Partner Center