NEW YORK (TheStreet) -- Shares of US Cellular (USM - Get Report) closed higher by 16.33% to $39.10 on very heavy trading volume after the telecommunications company was upgraded to "strong buy" from "outperform" at Raymond James Financial (RJF) this morning.
The firm raised its price target to $47 from its previous $44.
Separately, TheStreet Ratings team rates US CELLULAR CORP as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate US CELLULAR CORP (USM) a HOLD. The primary factors that have impacted our rating are mixed, some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its compelling growth in net income, largely solid financial position with reasonable debt levels by most measures and impressive record of earnings per share growth. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself and weak operating cash flow."
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