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Fly News Breaks for April 8, 2016
FTR
Apr 8, 2016 | 08:41 EDT
Cowen noted Frontier Communications (FTR) closed its Verizon (VZ) wireline acquisition. Despite the stock's recent rally, the shares fail to reflect the company's positive free cash flow, which will provide a cushion for its dividend, the firm contends. Cowen believes upside exists in the shares, citing expectations for improved visibility, the successful integration of its acquisition, and a potential short squeeze. Cowen reiterated its Outperform rating and raised its price target to $6.50 from $6.00 on Frontier.
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