Soleil Securities upgrades Alltel (AT) to Buy; Sees Buyout or Buyback After Spin-Off

Soleil Securities upgrades Alltel Corp. (NYSE: AT) from Hold to Buy, saying the spin-off of its wireline business makes it a more attractive acquisition candidate and /or management could use the $2.3B cash dividend for a $3B buyout program. The firm raises its price target from $62 to $71, buy says the stock coulc be worth $80 in a buyout.