BUZZ-Dycom Industries slips after Spruce Point says short on co

Shares of telecommunications contractor Dycom Industries DY.N fall 2.7% to $170.02 in early trade

Spruce Point Capital Management issues "strong sell" on DY and says it has short position

Adds stock faces up to 35%-55% potential downside risk

Flags concerns on cost saving among Dycom's telecom clients; says co may be embellishing margins

Says DY delayed disclosures of credit exposure to Frontier Communications FYBR.O

Dycom Industries did not immediately respond to a request for comment

DY shares down 2.1% year to date