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Fly News Breaks for August 8, 2016
CCOI
Aug 8, 2016 | 07:44 EDT
After Cogent reported a mixed Q2, Oppenheimer analyst Timothy Horan says he believes pricing declines in IP will resume to the historical 20% range as volumes accelerate from 40% to over 50% and revenue growth will accelerate to the low teens. Further, the analyst says the corporate side of Cogent's business remains healthy and expects free cash flow per share to grow 20% per year for the next few years. Horan views the stock pullback as a "good buying opportunity." He reiterates an Outperform rating and $45 price target on the shares.
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