Market Overview

UPDATE: Piper Jaffray Reiterates Overweight Rating, Raises PT on 21Vianet Group

Share:
Related VNET
Why 21Vianet Might No Longer Be A Buy: Pacific Crest
Wednesday's After-Hours Movers: Workday, Williams-Sonoma, Avago And More
Qihoo 360 Buyout Bid About To Be Slashed? (Investor's Business Daily)

In a report published Monday, Piper Jaffray & Co. reiterated its Overweight rating on 21Vianet Group (NASDAQ: VNET), and slightly raised its price target from $15.00 to $16.00.

Piper Jaffray noted, “3Q results were within guidance. Revenues were better than expected, but EBITDA was slightly below our forecast. While the company's partnership with Microsoft should put some pressure on near-term results, we believe it will be long-term accretive...We continue to believe industry dynamics remain attractive for 21Vianet. The company trades at a discount to other datacenter companies in our coverage universe, yet has the highest growth. We think weakness in the stock presents an attractive opportunity for investors. We believe the investments being made now will drive better growth and profitability in 2013.”

21Vianet Group closed on Friday at $9.29.

Latest Ratings for VNET

DateFirmActionFromTo
Aug 2015Pacific CrestDowngradesOverweightSector Weight
Nov 2014Canaccord GenuityDowngradesBuyHold
Nov 2014Stifel NicolausDowngradesBuyHold

View More Analyst Ratings for VNET
View the Latest Analyst Ratings

Posted-In: Piper Jaffray & Co.Analyst Color Price Target Analyst Ratings

 

Related Articles (VNET)

View Comments and Join the Discussion!

Get Benzinga's Newsletters