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Fly News Breaks for January 27, 2020
SHEN
Jan 27, 2020 | 07:40 EDT
Raymond James analyst Ric Prentiss downgraded Shenandoah to Market Perform from Outperform, citing the roughly 30% share price appreciation since early August, saying he feels shares are fairly valued given the risks vs. rewards of the pending decision on the T-Mobile-Sprint merger. In a research note to investors, Prentiss says he continues to be encouraged by the Sprint affiliate territory expansion efforts at Shenandoah and the tailwinds the expansions provide to subscriber growth as well as wireless adjusted EBITDA and margins.
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