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Fly News Breaks for May 4, 2018
ZAYO
May 4, 2018 | 08:43 EDT
Cowen analyst Colby Synesael noted Zayo reported disappointing Q3 headline results, which was driven by a greater churn in Allstream as well as a variety of one-time adjustments. He does not believes the departure of the COO will derail momentum and cited the plans for the company's transition to a REIT. He believes any selloff in the shares will be short-lived. Synesael reiterated his Outperform rating and raised his price target to $44 from $43 on Zayo Group shares.
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