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UNIT

Uniti Group

$23.10

-0.13 (-0.56%)

, WIN

Windstream

$6.37

0.12 (1.92%)

07:07
06/14/18
06/14
07:07
06/14/18
07:07

Morgan Stanley downgrades Uniti to Equal Weight after rally cuts into yield

As previously reported, Morgan Stanley analyst Simon Flannery downgraded Uniti Group (UNIT) to Equal Weight from Overweight as he sees a more balanced risk-reward following the stock's strong year-to-date rally. The strength in Uniti shares has lowered its dividend yield by about 300 bps to 10.4%, noted Flannery, who thinks Windstream's (WIN) credit should still be the primary driver of Uniti valuation. He raised his price target on Uniti shares to $24 from $20, adding that his biggest hesitation in downgrading the stock relates to the significant remaining opportunity he sees for it to diversify its tenant/asset portfolio.

UNIT

Uniti Group

$23.10

-0.13 (-0.56%)

WIN

Windstream

$6.37

0.12 (1.92%)

UNIT Uniti Group
$23.10

-0.13 (-0.56%)

06/14/18
MSCO
06/14/18
DOWNGRADE
MSCO
Equal Weight
Uniti Group downgraded to Equal Weight from Overweight at Morgan Stanley
05/14/18
05/14/18
DOWNGRADE
Target $21

Hold
Uniti Group downgraded to Hold on valuation at Deutsche Bank
As previously reported, Deutsche Bank analyst Matthew Niknam downgraded Uniti Group to Hold from Buy, citing valuation after its shares have outperformed the S&P 500 by nearly 40% since early March. Niknam is constructive on Uniti's execution and revenue diversification strategy, but thinks the risk/reward is balanced at current levels, he tells investors. He raised his price target on Uniti shares to $21 from $20.
05/14/18
DBAB
05/14/18
DOWNGRADE
DBAB
Hold
Uniti Group downgraded to Hold from Buy at Deutsche Bank
10/03/17
RHCO
10/03/17
NO CHANGE
RHCO
Uniti Group weakness overdone, says SunTrust
After a Windstream (WIN) noteholder alleged that the company defaulted on its covenant as a result of the spin off of Unit (UNIT)i, SunTrust analyst Greg Miller says that this development added to the decline of Uniti's stock and increases its legal risk. However, he thinks that Windstream will be able to convince the court to dismiss the noteholder's petition, and he consequently believes that the decline in Uniti is overdone. He cut his price target on Uniti to $25 from $30 but keeps a Buy rating on the shares.
WIN Windstream
$6.37

0.12 (1.92%)

03/13/18
GUGG
03/13/18
INITIATION
Target $1.35
GUGG
Sell
Windstream initiated with a Sell at Guggenheim
Guggenheim analyst Mike McCormack initiated coverage of the Telecom Services space, starting Windstream with a Sell rating and $1.35 price target, as he believes the Independent Local Exchange Carriers, or ILECs, burdened by legacy revenue are disadvantaged.
02/28/18
MSCO
02/28/18
NO CHANGE
Target $16
MSCO
Equal Weight
Frontier dividend suspension not entirely unexpected, says Morgan Stanley
Morgan Stanley analyst Simon Flannery noted that 91% of investors in a prior survey conducted by the firm said they expected Frontier Communications (FTR) to cut its dividend in 2018, though he also views the change as earlier and bigger than may have been expected. He also pointed out that when Windstream (WIN) eliminated its own dividend in August 2017, the stock fell 36% the next day, though he added that he thinks that dividend cut was more unexpected. Flannery, who questions whether the dividend news will overshadow Frontier's in-line quarterly results and better than expected 2018 guidance, has an Equal Weight rating on the stock.
01/02/18
01/02/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Johnson & Johnson (JNJ) downgraded to Neutral from Overweight at JPMorgan with analyst Michael Weinstein saying he sees greater upside potential in other large cap names with J&J shares trading at 17.9 times his 2018 earnings estimate. 2. PG&E (PCG) downgraded to Sell from Neutral at Guggenheim and to Neutral from Buy at Goldman Sachs. Goldman analyst Michael Lapides saying resolution of claims from the California wildfires, if inverse condemnation is applied, could take years and "cash flow/balance sheet impacts could prove significant still." 3. Allstate (ALL) downgraded to Underperform from Market Perform at Keefe Bruyette with analyst Meyer Shields saying the company's margin expansion story has played out. 4. Cabot Oil & Gas (COG) downgraded two notches to Underperform from Outperform at Raymond James with analyst John Freeman citing valuation after "considerable" 2017 share outperformance. 5. Windstream (WIN) downgraded to Underweight from Neutral at JPMorgan with analyst Philip Cusick saying he sees fundamental business challenges continuing in both the near and long term. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
01/02/18
JPMS
01/02/18
DOWNGRADE
JPMS
Underweight
Windstream downgraded to Underweight from Neutral at JPMorgan
JPMorgan analyst Philip Cusick downgraded Windstream to Underweight saying he sees fundamental business challenges continuing in both the near and long term. On the consumer side, the analyst expects competition from cable and satellite could capture up to 60% of Windstream's current subscriber base. Cusick does not have a price target for the shares.

TODAY'S FREE FLY STORIES

ENIA

Enel Americas

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UL

Unilever; also tag UN

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TWX

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$98.91

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, CMCSA

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SNE

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FOX

21st Century Fox

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OAS

Oasis Petroleum

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, OMP

Oasis Midstream Partners

$17.29

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Oasis Petroleum

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OMP

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SRCE

1st Source

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LGCY

Legacy Reserves

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EVA

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CRC

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INSM

Insmed

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  • 18

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GM

General Motors

$43.91

0.32 (0.73%)

, FCAU

Fiat Chrysler

$20.86

-0.37 (-1.74%)

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GM

General Motors

$43.91

0.32 (0.73%)

FCAU

Fiat Chrysler

$20.86

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F

Ford

$11.88

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  • 20

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MSFT

Microsoft

$100.24

-1.14 (-1.12%)

, GOOGL

Alphabet Class A

$1,159.03

-1.08 (-0.09%)

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MSFT

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$100.24

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GOOGL

Alphabet Class A

$1,159.03

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GOOG

Alphabet

$1,151.95

-0.05 (-0.00%)

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  • 18

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  • 28

    Oct

16:34
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Conference/Events
Deutsche Bank to hold a conference »

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WFC

Wells Fargo

$54.99

0.23 (0.42%)

, MS

Morgan Stanley

$51.17

-0.12 (-0.23%)

16:33
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Federal Reserve Bank of New York to hold a conference »

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WFC

Wells Fargo

$54.99

0.23 (0.42%)

MS

Morgan Stanley

$51.17

-0.12 (-0.23%)

BAC

Bank of America

$29.27

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C

Citi

$66.34

0.18 (0.27%)

WBK

Westpac Banking

$20.67

0.125 (0.61%)

GS

Goldman Sachs

$232.00

-1.695 (-0.73%)

BCS

Barclays

$10.59

-0.225 (-2.08%)

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F

Ford

$11.88

-0.01 (-0.08%)

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BMY

Bristol-Myers

$54.81

1.165 (2.17%)

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PTCT

PTC Therapeutics

$37.57

-0.75 (-1.96%)

, RHHBY

Roche

$0.00

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CYTK

Cytokinetics

$9.95

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PERY

Perry Ellis

$27.92

0.31 (1.12%)

16:12
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VSTM

Verastem

$6.53

0.95 (17.03%)

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  • 05

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IQ

iQIYI

$40.16

-0.44 (-1.08%)

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HD

Home Depot

$200.55

0.86 (0.43%)

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PAY

Verifone

$22.84

0.01 (0.04%)

15:28
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CACI

CACI

$167.60

1.1 (0.66%)

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CACI to hold a webcast »

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  • 21

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ARGX

Argenx

$92.38

-3.32 (-3.47%)

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  • 20

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PTC

PTC

$94.87

-0.46 (-0.48%)

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13:41
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VRX

Valeant

$26.86

0.06 (0.22%)

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  • 18

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WMGI

Wright Medical

$25.83

-0.26 (-1.00%)

13:27
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