UPDATE: Goldman Sachs Initiates Interxion at Neutral on Valuation

Goldman Sachs initiated coverage on Interxion INXN with a Neutral rating and a $25.50 price target. Goldman Sachs noted, "n our view, the company offers a good combination of exposure to the high growth European colocation segment and defensive business model with a high recurring revenue stream and stable pricing near term. We also see it as an attractive strategic asset within the consolidating TMT landscape. Though execution has improved over the last few quarters, both on an operational and capacity expansion basis, we believe that this is now reflected in valuation and hence our Neutral. We however could become more positive on share price weakness." Interxion closed at $23.23 on Wednesday.