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Fly News Breaks for November 3, 2017
CCOI
Nov 3, 2017 | 07:23 EDT
SunTrust analyst Greg Miller downgraded Cogent to Hold from Buy and kept his $45 price target following Q3 results. Miller says that while the company showed a clear acceleration in sequential net centric volume growth, he remains concerned that more overall traffic is syphoned off to direct connections between content providers and ISPs. The analyst says some investors expect the company to participate in the evolving trend of pay-TV cord-cutting in favor of on-demand streaming service, but says it is not clear whether that will be case.
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