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Barclays Capital Reiterates Overweight, Raises PT On Zayo On Sticking With Secular Fiber Play


In a report published Friday, Barclays Capital analyst Amir Rozwadowski reiterated an Overweight rating on Zayo Group Holdings, Inc. (NYSE: ZAYO), and raised the price target from $30.00 to $31.00.

In the report, Barclays Capital noted, "We recognize that percolating concerns around the pace of business activity, coupled with some lingering questions on the company's overall strategic direction following a doubling of its co-location business, have pressured Zayo's shares. However, we expect a number of possible upcoming catalysts – including a solid 1Q and a potential reengagement of its consistent acquisition strategy – to both alleviate near-term concerns and reaffirm Zayo's strategy on capitalizing on rising secular fiber demand. We lift our estimates following the close of the Latisys deal and retain our Overweight."

Zayo closed on Thursday at $26.93.

Latest Ratings for ZAYO

May 2019Raymond JamesDowngradesOutperformMarket Perform
May 2019CitigroupDowngradesBuyNeutral
May 2019Cowen & Co.DowngradesOutperformMarket Perform

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Posted-In: Amir Rozwadowski Barclays CapitalAnalyst Color Price Target Analyst Ratings

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