Gabelli & Co reiterates its Buy rating on Telephone and Data Systems, Inc. TDS as the company announces a revised share reclassification plan.
Gabelli says, “Under the new proposal, the reclassification ratio is increased to 1.087 shares for holders of common and series A common shares. The primary purpose of the changes (vs. the original proposal) was to recognize the fact the common shares have generally traded at a premium to the special common shares since the creation of special common shares in 2005. …Shares currently trade at a 61% discount to our 2012 PMV of $66.”
TDS traded at $25.79 per share at Tuesday's close.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in