Raymond James analyst Ric Prentiss upgraded ATN International to Strong Buy from Outperform with a price target of $40, up from $39. The company is “turning the corner back to positive then ramping” free cash flow after significant investments over the last two years, the analyst tells investors in a research note. The firm says the stock traded down 21% Thursday despite a solid Q4 print. Based on the results, the selloff “was quite surprising to us,” and might be more related to fund flows than fundamentals especially given ATN’s relatively low float, says Raymond James.
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Read More on ATNI:
- ATN Reports Fourth Quarter and Full Year 2023 Results; Provides 2024 Outlook
- ATN International sees FY24 revenue $750M-$770M, consensus $765.22M
- ATN International reports Q4 EPS (46c), two estimates (10c)
- ATNI Upcoming Earnings Report: What to Expect?
- ATN To Host Fourth Quarter And Full Year 2023 Financial Results Conference Call On February 22, 2024
