UPDATE: BWS Financial Upgrades Atlantic Tele-Network On Data Traffic

In a report published Monday, BWS Financial analyst Hamed Khorsand upgraded the rating on Atlantic Tele-Network (NASDAQ: ATNI) from Sell to Hold, and reiterated the $64.00 price target.

In the report, BWS Financial noted, “Atlantic Tele-Network (ATNI) upgrading more of its wireless base stations led the way in the Company reporting third quarter results surpassing expectations. ATNI upgraded nearly 200 base stations in the third quarter to help deliver the superior results in the third quarter while the rest of the portfolio continues to underperform. ATNI's earnings performance is leading to investors expecting such numbers on a regular basis, but we believe ATNI will soon reach an inflection point with pricing declining faster than the amount of traffic coming on the network.”

Atlantic Tele-Network closed on Friday at $59.39.