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Fly News Breaks for August 4, 2017
WIN
Aug 4, 2017 | 08:20 EDT
BofA/Merrill analyst David Barden downgraded Windstream two notches to Underperform from Buy and cut its price target to $2.50 from $8 following the company's surprising move to eliminate its 15c quarterly dividend. Barden believes investors were attracted by the yield and said the valuation premise of the company has materially changed, and its current declining business warrants a discount to peers.
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