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Fly News Breaks for October 12, 2017
INAP
Oct 12, 2017 | 11:07 EDT
Raymond James analyst Frank Louthan believes this morning's announcement from Internap provides "additional credence" to the story. The contract expansion is a "significant win from a very sizable customer," Louthan tells investors in a research note. He believes the additional space sold is part of the Digital Realty facility acquisition and represents an incremental 8,000 square feet to Internap's current base of 192,000 utilized square feet, or an additional ~4%. The analyst has more confidence in his estimates following this morning's contract win and keeps a Strong Buy rating on the shares. Internap in morning trading is down 7c to $5.10.
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