Jefferies Reiterates Its Positive View On ABVT
Analysts at Jefferies & Co maintain their "buy" rating on AboveNet Inc (NASDAQ: ABVT), while raising their estimates for the company. The target price for ABVT has been raised from $66 to $71.
According to Jefferies & Co, AboveNet is poised to benefit in the medium term from the anticipated growth in Ethernet, MPLS and wavelengths markets. “We believe ABVT is likely to continue to invest its FCF, as well as cash on hand, back into the business,” the analysts say.
“ABVT may add off-net services to complement its growing network footprint and drive continued enterprise growth,” the analysts mention. Jefferies & Co has raised its EPS estimate for 2010 from $4.28 to $4.40.
(c) 2012 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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