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Fly News Breaks for November 2, 2018
INAP
Nov 2, 2018 | 08:49 EDT
Craig-Hallum analyst George Sutton maintained a Buy rating on Internap but lowered his price target to $16 from $22 following the company's in-line results. In a research note to investors, Sutton says he believes the current pullback represents a great buying opportunity, citing a growing backlog that has yet to matriculate into reported results, incremental demand from existing customers and increased balance sheet flexibility resulting from their recent equity raise as key reasons to be bullish on the company.
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