- Windstream Holdings (NASDAQ:WIN) is up 6% after a wholesale two-notch upgrade to Outperform at Raymond James.
- The firm says a sell-off this year (WIN is down 37.2% YTD) is overdone, and acquisitions like Broadview are raising outlook for free cash flow.
- Analyst Frank Louthan IV also likes the company's spin-off Uniti Group (UNIT +3%) -- formerly CS&L -- ranking it a Strong Buy.
- He's set a price target for WIN of $5.25 (implying 14.4% upside from today's raised price) but $8 isn't out of the question if the company can reverse revenue trends, he says.