03:35 PM EDT, 05/03/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We keep our 12-month target price at $10, applying an EV/EBITDA multiple of 6.4x to our 2024 estimate, a discount to peers, reflecting our slow growth outlook and recent weak results. We trim our 2024 EPS estimate by $0.17 to a loss of $0.06 and lower 2025's EPS estimate by $0.16 to $0.00. TDS reported Q1 GAAP EPS of $0.10 vs. a loss of $0.06, $0.22 above the consensus. Q1 revenue increased 5%, driven by 10% growth in residential revenue on a larger customer base and a 7% increase in average residential revenue per connection. Wholesale revenue saw 3% growth, partially offset by a 9% decline in commercial revenue as it continues to decommission its competitive local exchange carrier markets. TDS reported 6,400 residential broadband net adds in Q1 on strong growth in its expansion markets. We see more pressure on its broadband business going forward due to intensifying competition and the expiration of the Affordable Connectivity Program.