Zacks reaffirmed their neutral rating on shares of NII Holdings (NASDAQ:NIHD) in a research note issued to investors on Thursday, AR Network reports. The firm currently has a $7.25 price target on the stock.
Zacks’ analyst wrote, “NII Holdings reported tepid financial results for the second quarter of 2013 with both its top and bottom line missing the Zacks Consensus Estimate. Higher churn, weaker exchange rate, lower ARPU, higher operating expenses, stiff competition in the Latin American markets and a high debt burden may act as headwinds for the company going forward. Moreover, slower 3G deployments and costs associated with it may further undermine company’s top-line growth. Nevertheless, the ongoing restructuring of the business model, the launch of the Atrix HD smartphone in Mexico and the sale of tower portfolios in order to finance the deployment of its 3G services in Brazil and Mexico may act as tailwinds for the company in the long run. Hence, we reiterate our long-term Neutral recommendation on the stock. “
Other equities research analysts have also recently issued reports about the stock. Analysts at Barclays Capital cut their price target on shares of NII Holdings (NASDAQ:NIHD) from $7.00 to $6.00 in a research note to investors on Monday, September 16th. They now have an underweight rating on the stock. Separately, analysts at Morgan Stanley downgraded shares of NII Holdings (NASDAQ:NIHD) from an equal weight rating to an underweight rating in a research note to investors on Thursday, August 22nd. They now have a $4.00 price target on the stock. Finally, analysts at Citigroup Inc. initiated coverage on shares of NII Holdings (NASDAQ:NIHD) in a research note to investors on Wednesday, August 7th. They set a sell rating on the stock.
Six equities research analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. The stock has an average rating of Hold and an average price target of $6.61.
NII Holdings (NASDAQ:NIHD) traded down 1.70% during mid-day trading on Thursday, hitting $6.35. The stock had a trading volume of 379,742 shares. NII Holdings has a one year low of $4.11 and a one year high of $9.82. The stock has a 50-day moving average of $6.50 and a 200-day moving average of $6.69. The company’s market cap is $1.095 billion.
NII Holdings, Inc (NASDAQ:NIHD) is a holding company for the operations of Nextel Communications, Inc in selected International markets.
To view Zacks’ full report, visit www.zacks.com
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