Verizon nearing deal for Frontier Communications, WSJ reports
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MoffettNathanson Downgrades Frontier Communications (FYBR) to Neutral
September 5, 2024 10:18 AM EDTMoffettNathanson analyst Nicholas R. Del Deo downgraded Frontier Communications (NASDAQ: FYBR) from Buy to Neutral with a price target of $38.50 (from $30.00).
The analyst comments "This morning, Verizon announced that it had agreed to acquire Frontier for $38.50 in cash per share, formalizing yesterdays report from the Wall Street Journal that a deal was imminent. This announcement prompts us to downgrade Frontier from Buy to Neutral, while raising our target price to equal the deal price. Earlier this... More
Citi on Verizon Communications (VZ) Bid for Frontier (FYBR): 'The deal has favorable industrial logic'
September 5, 2024 7:42 AM EDTCiti analyst Michael Rollins reiterated a Buy rating and $47.00 price target on Verizon Communications (NYSE: VZ).
The analyst comments "Verizon announced the acquisition of Frontier (FYBR) for $38.50 per share in an all-cash deal. Run-rate cost synergies established at $500 million. Verizon reaffirmed 2024 guidance and... More
MoffettNathanson on Verizon Communications (VZ) Bid for Frontier (FYBR): 'It's a terrible Idea'
September 5, 2024 7:24 AM EDTMoffettNathanson on Verizon Communications (NYSE: VZ) bid for Frontier Communications (NASDAQ: FYBR): 'It's a terrible Idea'
The analyst comments "Were not sure theres much to say about a reportedly imminent Verizon acquisition of Frontier that isnt obvious so lets start with the obvious. Its a terrible idea. If there is a... More
