NII Holdings Inc (NASDAQ:NIHDQ)‘s stock had its “sell” rating restated by investment analysts at Jefferies Group in a note issued to investors on Wednesday.

The analysts wrote, “Third quarter results showed better subscriber losses, largely driven by lower churn, though revenue was lower given F/X volatility. Nevertheless, a disciplined focus on cost cutting drove the second consecutive quarter of positive EBITDA. While we recognize signs of stabilization, we remain concerned given macro and competitive pressures, the path to sustainable free cash flow generation, and liquidity.””

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