UPDATE: Stifel Reiterates On 21Vianet Group Ahead Of Q3 Results

In a report published Friday, Stifel analyst Matthew Heinz reiterated a Buy rating on

, but lowered the price target from $33.00 to $28.00. In the report, Stifel noted, “21Vianet is scheduled to report 3Q14 results on Tuesday 11/25 after the close, followed by a conference call at 8pm ET. Based on industry checks and recent management commentary indicating a slower than expected ramp to cloud revenues and cabinet deployments, we are reducing our 2H14 estimates and target price. While VNET shares have recovered off their lows following the September short report, we think current levels continue to reflect a healthy amount of skepticism, and offer attractive long-term value for patient investors.” 21Vianet Group closed on Thursday at $20.36.