Frontier Communications Parent (FYBR – Research Report), the Communication Services sector company, was revisited by a Wall Street analyst yesterday. Analyst Michael Rollins from Citi maintained a Buy rating on the stock and has a $32.00 price target.
Michael Rollins has given his Buy rating due to a combination of factors surrounding the positive performance and outlook of Frontier Communications Parent Inc. (FYBR). His optimism stems from the company’s ability to maintain year-over-year revenue growth and to improve EBITDA growth, benefiting from both operational leverage and strategic cost reductions. Frontier’s recent quarter was marked by a boost in business revenue and Rollins anticipates that, despite some volatility, the company is on a trajectory of fiber growth which supports company-wide revenue enhancement and operational efficiency improvements.
Furthermore, Rollins’s positive stance is supported by Frontier’s strategic positioning, which includes assets that could facilitate mobile and broadband convergence, an area with significant growth potential. His updated financial models, which incorporate first-quarter results and management commentary, suggest that the company is likely to continue experiencing positive year-over-year growth. This projection, coupled with a rise in the target price to $32, reflects a belief in the company’s ongoing investment plan and its ability to capture market share through its fiber offerings in both established and newly upgraded markets.
In another report released yesterday, TD Cowen also maintained a Buy rating on the stock with a $39.00 price target.
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Frontier Communications Parent (FYBR) Company Description:
Frontier Communications Parent Inc offers a variety of services to residential and business customers over its fiber-optic and copper networks, including video, high-speed internet, advanced voice, and Frontier Secure digital protection solutions. It offers communications solutions to small, medium, and enterprise businesses.
Read More on FYBR:
- Frontier Communications backs FY24 adjusted EBITDA view $2.2B-$2.25B
- Frontier Communications reports Q1 EPS 0c, consensus (8c)
- FYBR Earnings this Week: How Will it Perform?
- Frontier Communications detected unauthorized access to IT environment
- Frontier Communications upgraded to Buy from Neutral at Citi
