ATN International price target lowered to $22 from $27 at Raymond James

Raymond James lowered the firm’s price target on ATN International (ATNI) to $22 from $27 and keeps a Strong Buy rating on the shares. ATN’s Q4 earnings included “disappointing” guidance for 4025, with revenue and adjusted EBITDA both expected to be essentially flat year over year driven by a decline in the U.S. segment, the analyst tells investors in a research note. As ATN has spent the last 3 years investing significantly in a “Glass-and-Steel” expansion strategy with fiber broadband and towers, the firm sees a ramp in free cash flow, reaching +$32M in 2025 and +$39M in 2026, the firm says.