12:10 PM EDT, 03/11/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We keep our 12-month target price at $5, applying an EV/sales multiple of 2.8x to our 2024 estimate, in line with its 10-year historical average multiple at 2.8x, reflecting our slow growth outlook and deteriorating fundamentals. We move our 2024 loss estimate to -$1.27 from a loss of -$0.96 and set 2025's loss estimate at -$1.47. CNSL reported a Q4 operating loss of -$0.26 vs. a loss of -$0.16, $0.10 above the consensus. Q4 revenue fell 7.0%, driven by a 12.8% drop in the Consumer Voice Services business due to a lower customer base, a 37.2% decline in Consumer Video Services, and a 3.9% fall in the Commercial Data Services business. CNSL still expects its transaction with Searchlight and BCI to take the company private for $3.1 billion to close in the first quarter of 2025.