Uniti Group reinstated with an Equal Weight at Barclays

Barclays analyst Brendan Lynch reinstated coverage of Uniti Group (UNIT) with an Equal Weight rating and $6 price target The firm says the combination of Uniti and Windstream created a portfolio with strong growth and cross-sell opportunities. However, several “challenged” revenue lines continue to contract, the analyst tells investors in a research note. Barclays believes the company’s ongoing portfolio rationalization will likely create earnings volatility.