Citi Maintains its Rating for CCOI, ups estimates
Michael Rollins of Citi maintains its “buy“ rating for Cogent Communications Group Inc (NASDAQ: CCOI), while raising its earnings estimates for the company. The target price for CCOI is set to $63.
Citi expects CCOI to post recovery in its 4Q organic revenue growth on the back of improvement in sales productivity, prospects of positive free cash flow generation. Cogent Communications is likely to show margin expansion in Q4, CIti said.
Citi has raised its EPS estimate for 2009 and 2010 from -$0.44 to -$0.43 and from -$0.06 to -$0.04, respectively.
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