Ahead of the Bell: Analyst upgrades R.H. Donnelley

Publicado: 27 Septiembre 2008
Google translate: 

NEW YORK (AP) -- A Deutsche Bank North America analyst upgraded Yellow book publisher R.H. Donnelley Corp. Friday, citing cost control efforts and bond buybacks.

Matt Chesler boosted his rating to "Hold" from "Sell" and raised his price target to $2 from $1.

Chesler said in a client note that he expects R.H. Donnelley to realize $30 million in savings from previously imposed cost cuts and "substantially" more than $40 million from a second restructuring program.

But the analyst did temper his opinion, saying his upgrade was "not a call that structural or cyclical trends have or will improve sufficiently to allow R.H. Donnelley to operate itself out of its high leverage."

Shares closed Thursday at $2.34.

http://biz.yahoo.com/ap/080926/rh_donnelley_ahead_of_the_bell.html?.v=1