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Fly News Breaks for October 20, 2016
CNSL
Oct 20, 2016 | 09:39 EDT
As previously reported, Stephens analyst Barry McCarver downgraded Consolidated Communications to Underweight from Equal Weight ahead of results as he sees the risk/reward as not favorable. The analyst believes the company's declining revenue, increasing dividend payout ratio, and expensive valuation relative to peers are all points of apprehension. He also lowered his price target on the shares to $20 from $23.
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