Gabelli Reiterates Buy on Cincinnati Bell

Gabelli is out with its report today on Cincinnati Bell

, reiterating Buy. In a note to clients, Gabelli writes, "We reiterate our BUY recommendation due to attractive valuation and solid growth prospects in the data center colocation business. CBB is trading at 5.7x 2012P EBITDA. Our 2011 PMV estimate is $5.35 per share, growing to $6.55 per share in 2012 (based on the following EBITDA multiples: 5.5x wireline, 7.0x wireless, 10x data center colocation, 4x IT Serives & Hardware)." At the time of posting, shares of CBB were trading at $3.07, up 0.66% from Monday's close.