Cincinnati Bell Receives Neutral Rating from Zacks (CBB)
Zacks reaffirmed their neutral rating on shares of Cincinnati Bell (NYSE: CBB) in a research note released on Wednesday morning. They currently have a $3.50 price target on the stock.
Zacks’ analyst wrote, “We believe that Cincinnati Bell enjoys a comfortable market position, owing to its distinguished brand name, attractively priced service bundles as well as proactive marketing and expansion strategies. We believe that taking up of new projects and the spin-off of CyrusOne into a separate entity will work in favor of the company in the long run and aid earnings growth in the years ahead. Further, the company’s efforts to improve the performance levels for both the wireline and wireless segments will also pay off, leading to higher profitability. However, erosion in local access lines, cut-throat competition and high maintenance expenditure pose major headwinds in the company’s growth path. Hence, we see restricted upside potential and adhere to our Neutral recommendation on the stock.”
A number of other firms have also recently commented on CBB. Analysts at Piper Jaffray cut their price target on shares of Cincinnati Bell from $4.50 to $3.50 in a research note to investors on Friday, March 8th. They now have a neutral rating on the stock. Separately, analysts at Raymond James downgraded shares of Cincinnati Bell from a strong-buy rating to an outperform rating in a research note to investors on Friday, March 1st. They now have a $4.25 price target on the stock, down previously from $6.00. Finally, analysts at Deutsche Bank initiated coverage on shares of Cincinnati Bell in a research note to investors on Tuesday, February 12th. They set a hold rating and a $5.50 price target on the stock.
One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. Cincinnati Bell presently has an average rating of Hold and an average price target of $4.61.
Cincinnati Bell (NYSE: CBB) traded up 2.12% on Wednesday, hitting $3.3393. Cincinnati Bell has a 52-week low of $3.21 and a 52-week high of $3.43. The stock’s 50-day moving average is currently $3.3. The company has a market cap of $676.8 million and a price-to-earnings ratio of 817.50.
Cincinnati Bell Inc. is a provider of data and voice communications services over wireline and wireless networks and a provider of data center operations, related managed services and equipment.
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