News

Broadwing Poised To Take Flight?

6/24/2001 8:00 PM Eastern

Morgan Stanley Dean Witter analyst Simon Flannery reiterated his "outperform" rating on digital-subscriber-line carrier Broadwing Inc. and set a $44 target price on its stock, citing solid execution and rapid revenue and cash-flow growth. Flannery expects revenue to rise by 24 percent and cash flow to increase by 35 percent in the second quarter. Despite the report, Broadwing's stock failed to respond, falling 67 cents per share to $22.17 June 20. The stock is down 16 percent from its June 13 close of $26.52.

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