Uniti Group price target raised to $6 from $5.50 at RBC Capital

RBC Capital raised the firm’s price target on Uniti Group (UNIT) to $6 from $5.50 and keeps a Sector Perform rating on the shares. The firm is adjusting its model to reflect higher non-recurring revenue and slightly higher projected operating expense while also rolling forward its estimates, the analyst tells investors in a research note. Uniti has the potential to outperform its peers in the long run if the management team can successfully execute on its strategy of diversification through disciplined M&A, efficient use of its unique REIT platform, and growth through its fiber and leasing platform, RBC adds.