Raymond James Downgrades Shenandoah To Underperform From Market Perform

July 7, 2021 10:41 AM | 1 min read | Make a Comment

Raymond James analyst Ric Prentiss downgraded Shenandoah Telecommunications Co SHEN to Underperform from Market Perform.
The downgrade came after the stock price rose 24% over the past two trading days despite no change in the firm's opinion of the company's fundamental value.
Recently, the company's shares surged when it declared a special dividend of $18.75 per share.
The stock gained 26% last week.
Price action: SHEN shares traded lower by 7.20% at $56.73 in the market session on the last check Wednesday.