Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

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.


LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus