Frontier -5% as Goldman cuts to Sell

• The market appears to be pricing in a 50% dividend cut, but analyst Brett Feldman doesn't see this as enough to drive long-term deleveraging and thinks the entire payout could be suspended.
• He downgrades Frontier (NYSE:FTR) to Sell, and halves his price target to $1.50 (36% downside).
• He reinstates Windstream (NASDAQ:WIN) with a Sell rating and Street-low $4.50 price target, noting expectations of revenue and free cash flow declines and thin dividend coverage.
• CenturyLink (NYSE:CTL) is also reinstated with a Sell, with PT trimmed to $19 from $21.
• Source: Bloomberg
• FTR -5.1% premarket