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UNIT

Uniti Group

$9.89

-0.33 (-3.23%)

, WIN

Windstream

$0.00

(0.00%)

07:29
03/25/19
03/25
07:29
03/25/19
07:29

RBC Capital adds Speculative Risk qualifier to Uniti Group

RBC Capital analyst Bora Lee keeps his Sector Perform rating on Uniti Group (UNIT) but adds a "Speculative Risk" qualifier and lowers the price target on the shares to $9 from $15. The analyst says the company's Q4 results last week were "solid", but the quarter was "overshadowed by the Windstream (WIN) situation", adding that the stock will likely "continue to experience volatility" from Windstream bankruptcy. Lee adds that installs were impacted by Hurricane Michael, even though the company "continues to expect the majority of its existing dark fiber and small cell construction projects to be completed" by the end of 2019.

UNIT

Uniti Group

$9.89

-0.33 (-3.23%)

WIN

Windstream

$0.00

(0.00%)

UNIT Uniti Group
$9.89

-0.33 (-3.23%)

03/05/19
WELS
03/05/19
DOWNGRADE
WELS
Underperform
Uniti Group downgraded to Underperform from Market Perform at Wells Fargo
03/05/19
03/05/19
DOWNGRADE
Target $8

Underperform
Uniti Group downgraded to Underperform on too much uncertainty at Wells Fargo
As previously reported, Wells Fargo analyst Jennifer Fritzsche downgraded Uniti Group (UNIT) to Underperform from Market Perform and lowered her price target on the shares to $8 from $17. The analyst notes that the company released an 8K which indicated a significant cut in the dividend. Fritzsche believes the February 15 ruling against Windstream (WIN) in its case versus Aurelius Capital Management, and the ripple effect on Uniti including a delay of the company's Q4 earnings and potential default in its credit agreement, has introduced a great degree of uncertainty into the story. While the analyst continues to believe Uniti's fiber assets are attractive, the company's path toward diversifying away from its Windstream exposure has become more difficult to model.
03/05/19
03/05/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Uniti Group (UNIT) downgraded to Underperform from Market Perform at Wells Fargo with analyst Jennifer Fritzsche saying the company released an 8K which indicated a significant cut in the dividend. 2. Adamas Pharmaceuticals (ADMS) downgraded to Underperform from Neutral at Mizuho, to Market Perform from Outperform at Cowen, and to Hold from Buy at Needham. 3. SQM (SQM) downgraded to Neutral from Buy at Citi with analyst Andrew McCarthy saying he continues to like the long-term lithium demand story but does not expect share price outperformance over the next 12 months. 4. Orange SA (ORAN) downgraded to Equal Weight from Overweight at Barclays with analyst Mathieu Robilliard saying an "irrational level of promotions" in 2018 continue to weigh on French telecoms. 5. Inter Parfums (IPAR) downgraded to Neutral from Buy at DA Davidson with analyst Linda Bolton Weiser citing valuation. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
03/19/19
SBSH
03/19/19
NO CHANGE
Target $8
SBSH
Sell
Uniti Group price target lowered to $8 from $11 at Citi
Citi analyst Michael Rollins lowered his price target for Uniti Group to $8 from $11 saying he remains concerned about the company's cash position and the continued demands on its balance sheet during 2019. He keeps a Sell rating on the shares.
WIN Windstream
$0.00

(0.00%)

02/26/19
WELS
02/26/19
DOWNGRADE
WELS
Underperform
Windstream downgraded to Underperform from Market Perform at Wells Fargo
Wells Fargo analyst Jennifer Fritzsche downgraded Windstream to Underperform from Market Perform and lowered her price target on the shares to 0c from $5 as she drops equity research coverage of the stock after the company filed for Chapter 11 bankruptcy. The analyst rating cut reflects the company's filing for Chapter 11 restructuring and uncertainty surrounding the short to medium term operations and financing challenges.
02/26/19
MSCO
02/26/19
NO CHANGE
Target $7
MSCO
Underweight
Uniti Group price target lowered to $7 from $16 at Morgan Stanley
Morgan Stanley analyst Simon Flannery stated in a note issued prior to Windstream (WIN) confirming that it has filed for Chapter 11 bankruptcy that he sees several potential outcomes for the company's relationship with Uniti Group (UNIT) in the event that Windstream seeks bankruptcy protection. The four potential outcomes he envisions include: the lease is accepted by the court; the lease is rejected; the lease is renegotiated; or the sale and leaseback structure is challenged and the structure collapses back to a single company. In his base case, Flannery is assuming Uniti cuts its annual dividend to 80c from $2.40 and he said Uniti's ability to do additional transactions is now complicated by the Windstream overhang. He maintains an Underweight rating on Uniti shares and cut his price target on the stock to $7 from $16.
02/26/19
02/26/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Caterpillar (CAT) downgraded to Sell from Buy at UBS by analyst Steven Fisher, who believes believes ~55% of Caterpillar's end markets will peak in 2019, pressuring revenue and margins in 2020 as demand declines. Continued growth in mining and share buybacks will not be enough to offset headwinds in construction and oil and gas, he said. 2. Foot Locker (FL) downgraded to Hold from Buy at Pivotal Research by analyst Mitchel Kummetz, who sees a less favorable risk/reward into the company's Q4 results on March 1. The analyst expects "solid" Q4 results but believes the company's Q1 is likely off to a slow start. An easy two-year comparison may not be enough for Foot Locker to generate solid Q1 same-store-sales, as the quarter is likely off to a slow start on delayed/reduced tax refunds, he said. 3. Windstream (WIN) downgraded to Underperform from Market Perform at Wells Fargo by analyst Jennifer Fritzsche to reflect the company's filing for Chapter 11 restructuring and uncertainty surrounding the short to medium term operations and financing challenges. 4. Palo Alto Networks (PANW) downgraded to Market Perform from Outperform at Northland by analyst Robert Breza, who stated that he expects upside to Q2 revenue and EPS given the company's track record of earnings beats, but he also expects EPS to be guided down as the company invests for growth while absorbing the Demisto acquisition. 5. CenturyLink (CTL) downgraded to Neutral from Buy at BofA/Merrill by analyst David Barden, who said he learned that the dividend cut was based on leverage, maturities, and the state of the bond market, not any fundamental change in the business, revenue fixes are being taken but the top line will not inflect this year, and no structural changes are underway at this time. The analyst came away more confident about underlying trends, but believes investors are more focused on near-term revenue and believes Q1 consensus estimates are too high, setting up for poor stock performance. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

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SRPT

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PHR

Phreesia

$28.67

0.1 (0.35%)

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SRPT

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ADBE

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SRPT

Sarepta

$100.39

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AMZN

Amazon.com

$1,760.44

11.33 (0.65%)

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OHAI

OHA Investment

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, PTMN

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ONCT

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HZN

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ORCL

Oracle

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SRPT

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NLNK

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EVRC

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BXRX

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GVA

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ENV

Envestnet

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LULU

Lululemon

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ORCL

Oracle

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ORCL

Oracle

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0.16 (0.28%)

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Earnings
Oracle sees 'double digit' EPS growth in FY20, consensus $3.88 »

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