Frontier Communications price target lowered to $33 from $35 at JPMorgan

JPMorgan lowered the firm’s price target on Frontier Communications to $33 from $35 and keeps an Overweight rating on the shares. The analyst updated the company’s model for its commentary at a conference. Frontier CEO Jeffrey recently noted that “Q2 is typically a quarter where we do get some seasonality headwinds, lower move activity, lower churn activity. I think it’s fair to say we see some of that carried into Q3,” the analyst tells investors in a research note. As a result, the firm lowered its Q3 consumer fiber net additions to 71,000 from 83,000.