Raymond James Sees 10% Upside In Shenandoah

Raymond James analyst Frank Louthan upgraded Shenandoah Telecommunications Co SHEN (Shentel) to Outperform from Market Perform with a $29 price target. The price target implies a 10% upside.
Louthan assumed coverage of the stock following the successful sale of its wireless business and the transition to becoming a pure-play wireline network and tower infrastructure provider.
He sees a significant growth opportunity to expand its fiber-based broadband footprint as well as "a solid growth plan."
Shenandoah, with its subsidiaries, provides various broadband communication products and services via its wireless, cable, fiber optic, and fixed wireless networks to customers in the mid-Atlantic U.S.
Price Action: SHEN shares traded higher by 3.94% at $26.36 on the last check Tuesday.

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