Citigroup Downgrades Frontier Communications to Neutral, Lowers Price Target to $17
Portfolio Pulse from richadhand@benzinga.com
Citigroup analyst Michael Rollins has downgraded Frontier Communications (NASDAQ:FYBR) from Buy to Neutral and lowered the price target from $30 to $17.
July 17, 2023 | 11:10 am
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Frontier Communications has been downgraded by Citigroup from Buy to Neutral, with a lowered price target from $30 to $17.
The downgrade from Buy to Neutral by Citigroup indicates a less optimistic outlook for Frontier Communications. The lowered price target from $30 to $17 suggests that the analyst believes the stock is overvalued at current levels. This could potentially lead to a decrease in the stock's price in the short term.
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IMPORTANCE 80
RELEVANCE 100