In a report published Friday, Bank of America analyst Mauricio Fernandes reiterated an Underperform rating on NII Holdings NIHD, and slightly raised the price target from $4.00 to $5.00.
In the report, Fernandes noted, “NIHD announced the sale of its Peruvian operations to Entel Chile for $400mn. Though this has been widely speculated in press articles, we still see the deal as net-positive to NIHD, given its increasingly limited balance sheet liquidity, and cash needs in Peru, thus we raise our 12-month PO to $5 from $4. However, our Underperform rating remains intact, as we see no evidence of better results or enhanced competitiveness where NIHD has been able to launch 3G services.”
NII Holdings closed on Thursday at $4.54.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in