In initiating coverage of Alltel Corp., W.R. Hambrecht + Co. said the telecommunications company should consider dumping its information services division, a leading provider of data processing services to banks.

In a report released Thursday Hambrecht analysts Peter C. Friedland and Neil A. Doshi argued that Alltel Information Services Inc. is “not strategically aligned” with the company’s core communications businesses and should be sold or spun off in a public offering.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.