Market Overview

UPDATE: D.A. Davidson Raises Price Target On Zayo Group Following Acquisition Of Latisys Holdings


In a report published Thursday, D.A. Davidson analyst James Moorman reiterated a Buy rating on Zayo Group Holdings (NYSE: ZAYO), and raised the price target from $33.00 to $35.00.

In the report, D.A. Davidson noted, “ZAYO announced plans to acquire Latisys Holdings for $675 million or roughly 13.4x November's annualized EBITDA or 15.3x the September quarter. Latisys is a colocation and infrastructure as a service (IaaS) provider with eight datacenters in five markets, including Northern Virginia, Chicago, Denver, Orange County and London. The data centers have over 185,000 square feet of billable office space. We expect the purchase to be financed by senior unsecured debt and expect the deal to close before ZAYO reports its December quarter results; the company should provide more detailed information at that time.”

Zayo Group closed on Wednesday at $30.22.

Latest Ratings for ZAYO

May 2019DowngradesOutperformMarket Perform
May 2019DowngradesBuyNeutral
May 2019DowngradesOutperformMarket Perform

View More Analyst Ratings for ZAYO
View the Latest Analyst Ratings

Posted-In: D.A. Davidson James MoormanAnalyst Color Price Target Analyst Ratings


Related Articles (ZAYO)

View Comments and Join the Discussion!

Latest Ratings

VSLRInitiates Coverage On12.0
IMMUInitiates Coverage On28.0
CUBEInitiates Coverage On35.0
RUNInitiates Coverage On19.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at

British Pound Trading Higher

UPDATE: MLV & Co Downgrades Host Hotels And Resorts As Focus Shifts To Stocks