Raymond James Hikes Knology to Outperform
Raymond James upgraded Knology (KNOL) to outperform from market perform, after the communications services company posted financial results on Wednesday.
The West Point, GA-based company said it had $59.9 million revenue during the fourth quarter, compared to $52.9 million during the same period a year ago.
Analyst Frank Loutham says the results showed solid upside to his fourth quarter estimate for revenue of $59.1 million. Among other things, he believes the company has turned a corner particularly on its Pinellas County, FL-based operations, and he thinks investors will continue to see incremental revenue and earnings growth. With the company's recently improved balance sheet and improving cash flow, he thinks investors should consider buying Knology at its current levels. He has a $6 stock price target.