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UPDATE: D.A. Davidson Reiterates On EarthLink Holdings Corp. On Positive Outlook

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In a report published Wednesday, D.A. Davidson analyst James G. Moorman reiterated a Buy rating on EarthLink Holdings Corp. (NASDAQ: ELNK), but lowered the price target from $5.00 to $4.50.

In the report, D.A. Davidson noted, “Q3 should see solid revenue and continued cost cutting. We expect continued growth in Managed Network and Cloud in what should be a seasonally solid quarter due to its retail customer base. We forecast a continued decline in the CLEC business, but expect cost cutting as the lower-end business is managed for cash flow. ELNK is focused on growing Managed Networks business. Under the new CEO, the company is focused on growing the Managed Network and Cloud Services business. ELNK is focused on building its retail customer base and has been reasonably successful recently; however, this business has EBITDA margins in the teens and only represents 16.5% of total revenue.”

EarthLink Holdings Corp. closed on Tuesday at $3.45.

Latest Ratings for ELNK

DateFirmActionFromTo
Nov 2016Drexel HamiltonDowngradesBuyHold
Oct 2016Cowen & Co.Initiates Coverage OnOutperform
Jun 2016Mitsubishi UFJDowngradesNeutralUnderweight

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Posted-In: D.A. Davidson James G. MoormanAnalyst Color Price Target Analyst Ratings

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