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Windstream +6%, Uniti +3% on Raymond James bullishness

  • 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.

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SymbolLast Price% Chg
WINMQ--
Windstream Holdings, Inc.