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Fly News Breaks for November 3, 2017
CCOI
Nov 3, 2017 | 06:31 EDT
Raymond James analyst Frank Louthan downgraded Cogent to Underperform from Market Perform following the disappointing Q3 report. The analyst said Cogent's growth rate has stalled and long-term guidance for 10%-20% revenue growth and 200 bp EBITDA margin expansion has pushed short-term investor expectations too high and risk/reward in shares has worsened.
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