ATEX - Anterix raised to overweight at JPMorgan on sale of spectrum

Anterix (ATEX) raised to overweight from neutral at JPMorgan, citing the company's announced sale of its 900 MHz spectrum to SDG&E for $50m.The sale improves the outlook for the shares and raises the the "reasonable range of outcomes" for the company going forward, according to JPMorgan analyst Philip Cusick."We are pleased with the SDG&E price level, but at $50m (Ameren was $48m), investors are still waiting on a much larger, $100’s of m’s level utility deal that will be needed to move toward the company’s 2024 revenue guidance." Cusick wrote.PT raised to $50 from $40.Recall Feb. 10, Anterix EPS beats by $0.01, beats on revenue.

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Anterix raised to overweight at JPMorgan on sale of spectrum