Morgan Stanley Reiterates Overweight, Raises PT On Zayo Following IPO

In a report published Friday, Morgan Stanley analyst Simon Flannery reiterated an Overweight rating on

, and raised the price target from $28.00 to $31.00. In the report, Morgan Stanley noted, "Following the IPO, Zayo has returned to its acquisitive nature to expand its fiber and datacenter footprint. Meanwhile, the secular demand for bandwidth is expected to boost bookings to at or near record levels next quarter. We reiterate our Overweight rating." Zayo closed on Thursday at $26.93.