U.S. Cellular price target lowered to $78 from $83 at Raymond James

Raymond James lowered the firm’s price target on U.S. Cellular (USM) to $78 from $83 and keeps an Outperform rating on the shares. U.S. Cellular reported “weak” Q1 results and is continuing its strategic review process with three major deals announced so far, the analyst tells investors in a research note. The firm thinks U.S. Cellular is headed toward becoming a standalone U.S. TowerCo.