Alaska Communications Systems "sector perform," target price reduced

03/19/08 - RBC Capital Markets

NEW YORK, March 19 (newratings.com) - Analysts at RBC Capital Markets maintain their "sector perform" rating on Alaska Communications Systems Group Inc (ALSK). The 12-month target price has been reduced from $16 to $13.

In a research note published yesterday, the analysts mention that the company has reported its 4Q07 revenues and EBITDA ahead of the estimates. Alaska Communications Systems has raised the planned capex budget for its long-haul fiber network initiative by $10 million to $105 million to reflect increased construction costs. The EBITDA estimate for 2008 has been reduced from $137.6 million to $126.6 million.