Benchmark Maintains Buy on Savvis (SVVS)

Benchmark is out with its report today on Savvis (NASDAQ: SVVS), maintaining Buy and a $40 PT.

In a note to clients, Benchmark writes, "Yesterday morning, Savvis reported strong 4Q results that were better than expectations. Growth in the strategic managed and cloud hosting segment was solid. In total, organic revenue was up about 10% y/y, an improvement from a modest decline a year ago. The company did not adjust its 2011 outlook. Savvis trades at 9x 2011E EBITDA, two multiple points below the sector average. We maintain a $40 per share target and Buy rating."

At the time of posting, shares of SVVS were trading at $34.01, up 2.44% from Tuesday's close.