BWS Financial analyst Hamed Khorsand maintained a Buy rating on Shenandoah Telecommunications Co (SHEN – Research Report) today and set a price target of $26.00.
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Hamed Khorsand has given his Buy rating due to a combination of factors that highlight Shenandoah Telecommunications Co’s growth potential. The company has shown a significant increase in its Glo Fiber subscriber base, adding approximately 5,900 new subscribers in the fourth quarter alone, which brings the total to over 65,000. This steady growth in subscribers is a key factor in the positive outlook for SHEN’s stock.
Furthermore, despite some challenges faced due to the acquisition of Horizon Telecom and changes in revenue recognition, SHEN’s ability to address these issues in 2024 demonstrates strong management and operational resilience. The forecast for further subscriber growth, with an expectation of adding more than 24,000 subscribers by the end of 2025, supports a robust annual revenue run rate for Glo Fiber. These elements combined suggest a promising future for SHEN, justifying the Buy rating.
According to TipRanks, Khorsand is a 5-star analyst with an average return of 9.9% and a 52.86% success rate. Khorsand covers the Technology sector, focusing on stocks such as Adeia, Immersion, and Innodata.