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Fly News Breaks for December 13, 2016
GTT
Dec 13, 2016 | 07:40 EDT
As noted earlier, SunTrust initiated coverage of GTT with a $32 price target and a Buy rating. Analyst Greg Miller says that the company's acquisition of Hibernia Networks is "transformational," as he expects the deal to position GTT to benefit from increased enterprise bandwidth demand. He thinks the deal will provide significant synergies in the near-term and boost its margins over the longer term. Miller adds that the company's multiple should expand as it increases its scale.
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