Fly News Breaks for June 18, 2019
Jun 18, 2019 | 07:16 EDT
As previously reported, Morgan Stanley analyst Simon Flannery upgraded U.S. Cellular (USM) and Telephone and Data Systems (TDS), each to Overweight from Equal Weight, stating that he sees both stocks as "very attractively valued" with each down over 20% from their recent peak levels. The timing "has never been better" for a tower sale and leaseback transaction for U.S. Cellular to monetize its portfolio of over 4,000 wireless towers, Flannery tells investors in a research note. He raised his price target on U.S. Cellular shares to $64.50 from $44.00 and increased his price target on Telephone and Data shares to $47.50 from $33.00.
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