UPDATE: Jefferies Reiterates Buy Rating, Raises PT on TW Telecom Following 2Q Review

In a report published Wednesday, Jefferies analyst Thomas Seitz reiterated a Buy rating on

, and raised the price target from $30.00 to $35.00. In the report, Jefferies noted, “TWTC reported stronger top-line growth than our/cons estimates, while M-EBITDA came in modestly lower than our/cons expectations. TWTC continues to invest in developing differentiating value-added services that expand the total addressable market and in strengthening the sales effort, which we believe should enable it to re-accelerate top line growth and expand margins in 2014. We maintain Buy rating; PT to $35.” TW Telecom closed on Tuesday at $28.24.