Goldman Sachs analyst Brett Feldman upgraded Cogent Communications to Buy from Neutral with a price target of $84, up from $52. The analyst sees 21% total return, including a 3.6% dividend yield. Cogent provides Internet access over a fiber network to corporate customers in large office buildings and data centers, making it a pure play on secular data demand, Feldman tells investors in a research note. He believes the company's revenue growth will accelerate from 5% in 2019 to 11% in 2022. Further, the most attractive aspect of the Cogent story is its ability to generate substantial operational leverage and free cash flow as it scales its business, contends Feldman.