Broadwing - BWNG - Still In Accumulation Mode

BWNG was downgraded from a Buy rating to Accumulate today by Janco Partners that set off a number of weak hands (day traders) or stop orders that spurred some selling on this news. This negative trading activity was unwarranted in our opinion. Nothing has changed with Broadwing except their increased marketing efforts in broadband and IP services to enterprise partners that should produce continued growth over the next several quarters. To reiterate - the company was "not" given a Sell recommendation, but rather an Accumulation rating. Accumulating on dips is not a bad idea especially after today's activity.