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Fly News Breaks for May 8, 2019
GTT
May 8, 2019 | 12:12 EDT
BTIG analyst Walter Piecyk downgraded GTT Communications to Neutral from Buy, telling investors that he has lost confidence in the company's ability to stem the decline in its revenue. Despite pointing toward record high bookings, GTT management was not willing to commit to a moderation of revenue decline in Q2, noted Piecyk, who lowered his organic sequential revenue growth expectations to down 1.0% but added "we fear that the risk of a 3% sequential decline in revenue is no longer off the table."
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