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Fly News Breaks for May 27, 2015
FTR
May 27, 2015 | 08:34 EDT
Morgan Stanley analyst Simon Flannery upgraded Frontier Communications (FTR) two notches to Overweight from Underweight following the company's 26% sell-off in the year to date due to the pending financing for the Verizon (VZ) wireline assets. Flannery believes the company's current dividend is sustainable in the medium term and that its dividend yield and valuation make the stock attractive at current levels. However, the analyst trimmed his price target for Frontier shares to $6 from $7.
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