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Fly News Breaks for December 10, 2018
INAP
Dec 10, 2018 | 08:03 EDT
Jefferies analyst Jonathan Petersen initiated coverage of Internap with a Buy rating and $7.50 price target. Trading at 6.8 times EBITDA, the market is penalizing the company for its high leverage, but undervaluing its improved portfolio with growing EBITDA, Petersen tells investors in a research note. He believes Internap's below average utilization provides an opportunity to drive revenue growth with lower incremental capex needs.
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