UPDATE: Citigroup Downgrades Interxion Holding NV to Neutral on Europe Outlook

Citigroup downgraded Interxion Holding NV

from Buy to Neutral and lowered the price target from $26.00 to $25.00. Citigroup said, "We are reducing our rating on Interxion from Buy to Neutral, with a downwardly-revised target price of $25, largely based on the risk that the challenging business environment in Europe may restrain the rate of revenue growth for Interxion during 2013 from our prior estimate of ~17% to our current estimate of ~14%. Also, with strong share price performance over the last 3 & 12 months coupled with nearly flat ytd performance (-55 bps), we believe the risk to consensus revenue of roughly 2% for 4Q/12 and FY13 (based on our revised estimates) could prompt greater share price volatility in the near term." Interxion Holding NV closed at $23.63 on Monday.