Citi raised the firm’s price target on U.S. Cellular (USM) to $53 from $29 and keeps a Buy rating on the shares. The analyst updated the company’s for the Q2 results and to reflect a greater likelihood that it takes positive actions to improve value for shareholders. Citi believes options among Telephone and Data’s (TDS) stated strategic alternatives include a potential sale of U.S. Cellular to a single entity, asset sales to different buyers, and/or specific tower monetization. Citi says the formal consideration of strategic options for U.S. Cellular can support a better value for both companies.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on USM:
- U.S. Cellular upgraded to Equal Weight from Underweight at Wells Fargo
- U.S. Cellular rises 19.6%
- DraftKings upgraded, Home Depot downgraded: Wall Street’s top analyst calls
- JPMorgan upgrades U.S. Cellular on strategic alternatives decision
- Telephone and Data upgraded to Overweight from Neutral at JPMorgan
