Market Overview

UPDATE: Canaccord Genuity Initiates 21Vianet Group with Buy, $16 PT on Strong Secular Growth in China Market

Related VNET
UPDATE: Morgan Stanley Reiterates On 21Vianet Group Following Acquisition Announcement
21Vianet Signs Strategic Partnership Agreement With Foxconn

Canaccord Genuity initiated its coverage on 21Vianet Group (NASDAQ: VNET) with a Buy rating and a price target of $16 a share.

Canaccord Genuity said, "We are initiating coverage on 21Vianet with a BUY rating and $16.00 price target as we believe that the company, with its unique set of assets and industry-leading position, is well positioned to benefit from the strong secular trend of Internet traffic growth in the Chinese market. With 30%+ revenue CAGR forecast in the next several years, expanding margins and a valuation multiple that is still well below global carrierneutral data center comparables, we believe the company's stock offers an attractive risk/reward profile for investors."

21Vianet Group closed at $11.19 on Tuesday.

Posted-In: Canaccord GenuityAnalyst Color Initiation Pre-Market Outlook Analyst Ratings

 

Most Popular

Related Articles (VNET)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters