RBC Capital analyst Jonathan Atkin downgraded Cogent (CCOI) to Sector Perform from Outperform with a price target of $40, down from $74, after the company reported Q2 results. The firm, which reduced its estimates following the report, assumes no acceleration in dividend growth and applies a higher discount rate in its valuation to reflect the company’s higher risk profile, the analyst tells investors.
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Read More on CCOI:
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