Raymond James Sees 10% Upside In Shenandoah

• Raymond James analyst Frank Louthan upgraded Shenandoah Telecommunications Co (NASDAQ:SHEN) (Shentel) to Outperform from Market Perform with a $29 price target. The price target implies a 10% upside.
• Louthan assumed coverage of the stock following the successful sale of its wireless business and the transition to becoming a pure-play wireline network and tower infrastructure provider. 
• He sees a significant growth opportunity to expand its fiber-based broadband footprint as well as "a solid growth plan."
• Shenandoah, with its subsidiaries, provides various broadband communication products and services via its wireless, cable, fiber optic, and fixed wireless networks to customers in the mid-Atlantic U.S. 
• Price Action: SHEN shares traded higher by 3.94% at $26.36 on the last check Tuesday.