J.P. Morgan Upgrades NTELOS and Raises PT

According to a recent report, J.P. Morgan has upgraded NTELOS NTLS from a Neutral to an Overweight rating and has increased the price target from $22.00 to $23.00 based on the J.P. Morgan's DCF analysis. In the report, J.P. Morgan said, "We believe nTelos could see stabilization in its wireless subscriber base, better than expected revenue from Sprint, and improved wireline results as the integration of FiberNet and Allegheny continue and fiber-to-the-cell site (F2C) opportunities are realized." Further, NTELOS is rumored to split into separate wireless and wireline companies in 4Q11 which will provide a optimistic outlook for the company. NTELOS closed yesterday at $19.05.