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Fly News Breaks for September 24, 2019
SWCH
Sep 24, 2019 | 08:26 EDT
BMO Capital analyst Ari Klein raised his price target on Switch to $17 and kept his Outperform rating after holding an investor meeting with its senior management. The analyst notes that after a challenging 2018, the company's execution has been better as it sighted multiple large leases and accelerated its growth rate. Klein believes that Switch can continue to deliver EBITDA growth rate of over 10% and contends that its improving execution "warrants a higher multiple".
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