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Fly News Breaks for May 7, 2015
INAP
May 7, 2015 | 10:22 EDT
Wells Fargo sees two possible reads on the news of Internap CEO Eric Cooney resigning. The first is negative, since Cooney "was very well respected." The second is positive, as Wells thinks the departure could foreshadow the potential for Internap to seek strategic alternatives. Given recent deal activity in the space, and an activist recently suggesting the company explore alternatives, Wells sees the positive read as more likely. It keeps an Outperform rating on Internap.
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