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Upgrade Alert for Frontier Communications (FTR)

By James Quinn

Frontier Communications (NYSE:FTR) was upgraded from Underperform to Neutral at Macquarie today. The stock closed yesterday at $4.68 on volume of 19.2 million shares, above average daily volume of 18.0 million.

In the past 52 weeks, Frontier Communications share prices have been bracketed by a low of $3.81 and a high of $6.90 and closed yesterday at $4.68, 23% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.7%.

Frontier Communications Corporation provides communications services to rural areas and small and medium-sized towns and cities. The Company offers a variety of voice, data, and Internet, and television services.

There is potential upside of 37.6% for shares of Frontier Communications based on a current price of $4.68 and an average consensus analyst price target of $6.44. The stock should run into initial resistance at its 200-day moving average (MA) of $5.01 and subsequent resistance at its 50-day MA of $5.42.

SmarTrend recommended that its subscribers protect gains by selling shares of Frontier Communications on May 19th, 2016 by issuing a Downtrend alert when the shares were trading at $4.96. Since that call, shares of Frontier Communications have fallen 8.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: analyst upgrades/downgrades Frontier Communications

Ticker(s): FTR