Markets & Finance

Salomon Cuts Adelphia Communication Targets


Salomon Smith Barney cut its target on Adelphia Communications (ADLAC).

On Wednesday the company posted $395.3 million vs. $275.9 million in fourth quarter EBITDA. Analyst Niraj Gupta says he expects the company to provide substantially greater transparency on assets and liabilities that comprise Highland Holdings by early next week. He believes Adelphia should eliminate its co-borrowing arrangement altogether, which would alleviate investor concerns regarding a self dealing/conflict of interest, and restore stability to its story.

Gupta cut his $37 target to $30. He believes Adelphia's fundamental operating outlook is solid and its strategic value is unchanged. Gupta maintains his buy rating.


Ebola Rising
LIMITED-TIME OFFER SUBSCRIBE NOW

Sponsored Financial Commentaries

Sponsored Links

Buy a link now!

 
blog comments powered by Disqus