Telephone & Data Systems Inc (NYSE: TDS) received a Buy rating and a $38 price target from B.Riley FBR analyst Zachary Silver yesterday. The company’s shares opened today at $34.33, close to its 52-week high of $34.45.
Silver said:
“We are initiating coverage of Systems, Inc. (TDS) with a Buy rating and a 12-month price target of $38 per share. While the value of TDS’s core holding, Corporation (USM – Neutral, $48 PT), has increased 28% over the last 12 months, TDS’s share price has lagged behind, up only 8% over the same period (the S&P 500 is up 4%). We estimate that TDS’s stake in USM represents close to 100% of TDS’s current market cap and 63% of its enterprise value. Given this, TDS’s share price performance should closely reflect that of USM. We believe that over the next 12 months, TDS will take steps to remedy the above-average discount at which it trades relative to the implied value of its 71M shares of USM.”
According to TipRanks.com, Silver is a 2-star analyst with an average return of 9.2% and a 80.0% success rate. Silver covers the Technology sector, focusing on stocks such as Shenandoah Telecommunications Co, United States Cellular, and Wideopenwest Inc.
Telephone & Data Systems Inc has an analyst consensus of Moderate Buy, with a price target consensus of $38.
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The company has a one-year high of $34.45 and a one-year low of $23.54. Currently, Telephone & Data Systems Inc has an average volume of 733.1K.
Based on the recent corporate insider activity of 39 insiders, corporate insider sentiment is negative on the stock.
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Telephone & Data Systems, Inc. engages in the provision of wire line and cable broadband, video and voice services. It operates through the following segments: U.S. Cellular, Wireline, Cable, Hosted and Managed Services, and Corporate, Eliminations and Other. The U.S. Cellular segment provides wireless telecommunications services to the customers.
