Bank of America Previews 2Q Results for Frontier Communications Corp

Bank of America has published a report on Frontier Communications Corp FTR. In the report, Bank of America wrote, "2011 Guidance. We expect Frontier to reiterate guidance for 2011 covering capital expenditure, free cash flow, and cash taxes. Our 2011 FCF estimate (Frontier definition which adds back merger integration costs) is $1.14b vs. guidance of $1.15-1.2b. Our 2011 capex is $765m, excluding $60m of merger integration capex, which compares to guidance of $750-780m." Bank of America rated Frontier Communication Corp an Underperform with a price target of $7.00. Froniter Communication Corp closed Monday at $7.46.