Raymond James analyst Ric Prentiss lowered the firm’s price target on ATN International to $32 from $40 and keeps a Strong Buy rating on the shares. ATN reported a disappointing miss in Q1 and trimmed its 2024 guidance, including adjusted EBITDA down 4% to $190M-$200M and revenue down 3% to $730M-$750M, but Raymond James believes Thursday’s stock reaction was greatly exaggerated since ATN is a small cap, illiquid name, and the firm remains confident in the story given the inflection point and ramp in free cash flow.
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Read More on ATNI:
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