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Fly News Breaks for May 9, 2016
CCOI
May 9, 2016 | 07:47 EDT
Oppenheimer analyst Timothy Horan believes Cogent's record fundamentals should drive "strong" 2016-2017 growth, after the company reported quarterly results. Cogent had a record number of sales people, sales productivity, low churn and "strong" customer adds in the quarter, the analyst tells investors in a research note. Long term, the analyst sees more competition on the on-net corporate side, but less in net-centric and off-net, with the company having "significant" room for growth. Horan reiterates an Outperform rating and $45 price target on the shares.
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