WideOpenWest price target lowered to $8 from $20 at B. Riley

B. Riley analyst Daniel Day lowered the firm’s price target on WideOpenWest to $8 from $20 and keeps a Buy rating on the shares. The analyst attributes the post-earnings selloff to the worse than anticipated subscriber losses and expectations for even more substantial losses in Q4. Although WideOpenWest is still on track for 50,000 greenfield home passings in central Florida by year-end, most passings now aren’t expected to be released to sales until closer to the end of the year, a delay versus prior expectations that pushed most of the greenfield growth into 2024, the analyst tells investors in a research note.