TD Cowen raised the firm’s price target on Frontier Communications to $39 from $35 and keeps an Outperform rating on the shares. The firm believes the shares are meanigfully undervalued and noted activist investor Jana Partners has accumulated a stake and is pushing for a sale.
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Read More on FYBR:
- Activist Jana calls on Frontier Communications to explore sale, Reuters reports
- Jana built stake in Frontier Communications, calls for sale, Reuters reports
- Frontier Communications put volume heavy and directionally bearish
- Frontier Communications price target lowered to $33 from $35 at JPMorgan
- Frontier Communications to relocate headquarters to Dallas
