UPDATE: Goldman Sachs Raises PT on Cincinnati Bell to $5.25

Goldman Sachs published a research report on Cincinnati Bell

that raised its price target from $4 to $5.25. In the report, Goldman Sachs wrote, "We are updating our model for 2Q12 results and to reflect additional clarity surrounding the CyrusOne IPO. Our 2012 revenue and EBITDA estimates are now $1,465mn/$515mn (-0.7%/-1.0%), driven by lower data center contribution, which assumes a longer than previous utilization ramp from new space. Our Wireline and Wireless estimates were broadly unchanged. Given a roll forward to a 2013YE valuation and higher multiple assigned to CyrusOne, our 12-month price target moves to $5.25 (from $4.00)." Goldman Sachs maintained its Neutral rating on Cincinnati Bell, which is currently trading up 0.89 percent from Wednesday's $5.64 closing price.