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UPDATE: Deutsche Bank Cuts PT to $7 on Boingo Wireless on Lower Than Expected Guidance

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Boingo Initiated With Outperform Rating, Oppenheimer Sets $12 Price Target

Deutsche Bank maintained Boingo Wireless (NASDAQ: WIFI) with a Hold rating and lowered the price target from $9.00 to $7.00.

Deutsche Bank noted, "WIFI posted mixed results & provided guidance below expectations, due to NT pressures in retail. Following results, we lower our PT as we align our ests with lower than expected guidance. Reiterate HOLD given NT execution risk as WIFI transitions to a more wholesale/ advertising based model. … [W]e reduce our price target to $7 (from $9) to reflect near-term risk associated with WIFI's shifting revenue mix, a lower target multiple (5x '14 EBITDA vs. 5.5x prior) and lower forecasts."

Boingo Wireless closed at $6.77 on Friday.

Latest Ratings for WIFI

DateFirmActionFromTo
Sep 2016OppenheimerInitiates Coverage onOutperform
Aug 2016JefferiesMaintainsBuy
Jul 2016BTIG ResearchInitiates Coverage onSell

View More Analyst Ratings for WIFI
View the Latest Analyst Ratings

Posted-In: Deutsche BankAnalyst Color Price Target Analyst Ratings

 

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