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Fly News Breaks for June 3, 2015
FTR
Jun 3, 2015 | 07:25 EDT
DA Davidson upgraded Frontier Communications with a Buy rating and $6.50 price target. The firm said Frontier's announcement to offer $750M in stock and $1.75B in convertible preferred stock removes an overhang. DA Davidson said the equity portion may be below expectations and the high short interest could lead to short covering following the offering.
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