Why Frontier Communications Corp Stock is Falling (Again) Today | InvestorPlace

Investor Place| Fri Nov 10 13:03:37 EST 2017
Frontier Communications Corp (NASDAQ:) stock was hit hard on Friday after an update from an analyst. The analyst behind this update is Bank of America/Merrill Lynch’s David Barden. In a recent research note, the analyst cut his price target for FTR stock from $19 to $4. The stock was sitting at $7.96 when the markets closed on Thursday. The reason for the price target update has to do with Frontier Communications Corp’s current dividend policy. The company is paying out a dividend of 60 cents per share to investors every quarter. FTC won’t likely be able to keep this dividend up as its struggles to reduce its $17.7 billion in long-term debt. There’s talk that it..

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