Drexel Hamilton Upgrades FairPoint Communications (FRP) to Buy

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Go back to Drexel Hamilton Upgrades FairPoint Communications (FRP) to Buy

Jefferies Remains Sidelined on FairPoint Communications (FRP) as In-Line 1Q Financials Pair with Strong Subscriber Results

May 5, 2016 10:03 AM EDT

Jefferies maintained a Hold rating on FairPoint Communications (NASDAQ: FRP), and cut the price target to $15.00 (from $18.00), following the company's 1Q earnings report. FRP reported in-line financial results with revenues of $206.8mn.

Analyst Mike McCormack commented, "FRP reported strong 1Q subscriber results, though financials... More