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NII HOLDINGS INC Message Board

  • stock_master34 stock_master34 Mar 6, 2014 10:05 PM Flag

    Read and Relax. Insights on WF upgraded on3/3/2014

    Wells Fargo maintained an Outperform rating on NII Holdings (NASDAQ: NIHD) but reduced its price target t $1.75-$2.50 (from $13-$15). The change follows Q4 results and negative comments on liquidity.

    Analyst Jennifer M. Fritzsche said, "While Q4 results were slightly better than feared, concerns about liquidity clearly drove the stock performance Friday (down 55%+ vs. the S&P +0.3% increase). While we recognize these concerns, at this point, we still believe there is equity value with this name. This belief keeps us at an Outperform rating โ€“ recognizing the uphill battle the company has at this point."

    "We believe the key for stock at this point is taking actions to handle the liquidity challenges the company now faces. With the stock now at only $1.15/share โ€“ we are taking the stance that the company moves to avoid a restructuring. While some of these moves may be dilutive to shareholders (i.e. a debt for equity swap), with the stock where it is, we believe it is reflecting a worst case scenario โ€“ which we are not certain will play out. We are lowering our valuation range from $13-15 to $1.75-2.50. This is based on our new estimates and a lower multiple assumption," she added.

    For an analyst ratings summary and ratings history on NII Holdings click here. For more ratings news on NII Holdings click here.

    Shares of NII Holdings closed at $1.15 yesterday, with a 52 week range of $1.90-$9.82.

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