UPDATE: Goldman Sachs Upgrades Interxion to Buy Following Solid 2013 Guidance
Goldman Sachs upgraded Interxion (NYSE: INXN) from Neutral to Buy and lowered the price target from $32.00 to $31.00.
Goldman Sachs noted, "We believe that in-line 4Q12 results and positive commentary around solid pipeline in core markets should allay recent market concerns on pricing pressure. While macro conditions in Europe remain uncertain, we believe INXN offers a good combination of a defensive revenue model and has strategic appeal. We reduce our EPS estimates by 3%-4% for FX and headwinds in non-core geographies. We forecast a strong 15% revenue CAGR and 25% PF EPS CAGR (adjusted) over 2012-14 and expect the stock to recover its relative underperformance since December following reassuring results."
Interxion closed at $24.04 on Wednesday.
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