Bank of America Reviews Estimates After 2Q at TW Telecom

Bank of America has published a report on TW Telecom (NASDAQ: TWTC) raising estimates for the network and Internet provider.

In the report, Bank of America wrote, "TW Telecom's 2Q11 results were marginally below our revenue and Adjusted EBITDA estimates, but better than projected on net customer additions. TW Telecom posted record bookings in 2Q, which supports a more constructive view with regard to customer additions. Consolidated revenue of $338.4m (+6.8% Y/Y) was 60bp below our $340.5m estimate and was roughly in-line with consensus of $338.7m."

Bank of America rated TW Telecom a Neutral with a price target of $23.50. TW Telecom closed Tuesday at $17.68.

(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.