BofA move to No Rating from Buy on Frontier Communications (FYBR) as the analyst believes that the stock is no longer trading on fundamentals after Verizon (VZ) and Frontier announced a definitive agreement for Verizon to acquire Frontier in an all-cash transaction valued at $20B.
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Read More on FYBR:
- Verizon price target lowered to $44 from $46 at KeyBanc
- Frontier upgraded to Equal Weight from Underweight at Wells Fargo
- Verizon making $20B fiber buy, Topgolf and Fortive splitting up: Morning Buzz
- Frontier Communications downgraded to Neutral from Buy at MoffettNathanson
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