DA Davidson & Co has upgraded Consolidated Communications Holdings (NASDAQ: CNSL) from an Underperform rating to a Neutral rating and has increased the company's price target from $15.50 to $19. The upgrade comes on the heels of Consolidated Communications Holdings' acquisition of SureWest Communications (NASDAQ: SURW).
In the report, DA Davidson & Co writes, "With this acquisition, CNSL decreases its leverage and improves its mix of businesses toward less regulated, higher growth areas. We think CNSL will not make any other large acquisitions for the next two years. With a sustainable 8% yield, we are upgrading our rating from Underperform to NEUTRAL."
Shares of Consolidated Communications Holdings are currently trading at $19.12, up 0.10% from yesterday's close.
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