Sidoti analyst Allen Klee upgraded ATN International to Buy and raised its price target to $70 from $64 to reflect improving operations in the US Virgin Islands and lower US corporate tax rates.

Consensus $764.54M. Cuts FY24 adjusted EBITDA view to $190M-$200M. Cuts FY24 capital expenditures view to $100M-$110M from $110M-$120M. The company said, ""We are revising our Fiscal Year 2024 guidance to reflect the softer than expected first quarter results and our current expectations for the balance of the year. While our International Telecom segment is expected to show continued year-on-year growth, the carrier services project delays from the first quarter are expected to create headwinds impacting the US Telecom segment throughout the year. To address this shortfall, our priorities are working to recover the project delivery schedule, pursuing and closing business revenue pipeline opportunities, and accelerating actions to drive the Company toward higher margin levels. Additionally, we are reducing our capital expenditures for 2024 in line with the delays in certain projects and lowering our Adjusted EBITDA expectations as we prioritize improving operating cash flow. We believe that our investments are important to expand the longevity of our network and position us to enhance shareholder value over time."