Citi raised the firm’s price target on Frontier Communications to $32 from $30 and keeps a Buy rating on the shares. The analyst cites the company’s favorable Q1 results and its reaffirmed guidance outlook for 2024 for the target bump. Frontier seems well positioned to sustain annual revenue growth and improving EBITDA growth from the combination of operating leverage and cost cutting, the analyst tells investors in a research note.
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