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Fly News Breaks for March 9, 2017
GTT
Mar 9, 2017 | 09:25 EDT
Craig-Hallum analyst George Sutton says that while Hibernia's revenues declined in Q4 and will likely weigh on GTT Communications' organic growth targets for the next quarter or two, this was baked in. Further, the analyst notes that Hibernia acquisition represents "a giant leap" toward achieving the company's financial targets of $1B in revenue and $250M in adjusted EBITDA. Sutton views GTT Communications as a well-run organization, and says the pullback in the shares creates an "attractive entry point." He reiterates a Buy rating and $40 price target on the stock.
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