Frontier Communications (NYSE:FTR) is 7.4% lower premarket after a downgrade to Underperform and a slashed price target at Wells Fargo.
Analyst Jennifer Fritzsche cut her price target to $1.75 from $5. Shares closed yesterday at $2.72.
On a slide, they've declined 61.9% in the past quarter, but were having a good week, up 17.2%.
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