In a report published Wednesday, Deutsche Bank reiterated its Buy rating on TW Telecom TWTC, but slightly lowered its price target from $31.00 to $30.00.
Deutsche Bank noted, “3Q12 results support our expectations for healthy revenue growth. TWTC reported solid 3Q results driven by a mix shift toward high-growth Data and Internet services (D&I), the company's largest and fastest growing revenue stream. We expect core D&I services to remain strong due to healthy bookings, ramping success-based spending and recent product launches. In our view, TWTC remains one of the most compelling stories in the wireline sector due to its strong core growth trends and hard-to-replicate local fiber assets. Both factors should support valuation as the sector consolidates; maintain Buy.”
TW Telecom closed on Tuesday at $24.84.
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