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Fly News Breaks for February 28, 2020
CCOI
Feb 28, 2020 | 09:00 EDT
SunTrust analyst Greg Miller raised the firm's price target on Cogent to $75 from $52 but keeps a Hold rating on the shares after its Q4 results. The analyst notes that the company's sales force expansion has started to pay off with accelerating revenue growth and continued margin expansion, which should allow it to continue to grow its dividend for the foreseeable future. Miller prefers to wait for a better entry point however given his view of a "stretched valuation" on Cogent shares.
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