Cogent price target lowered to $22 from $25 at Goldman Sachs

Goldman Sachs lowered the firm’s price target on Cogent (CCOI) to $22 from $25 and keeps a Neutral rating on the shares. The firm expects the stock to remain under pressure given Cogent missed the Street on wavelength and total revenue but was in-line on EBITDA, the analyst tells investors in a research note. The company will need to demonstrate stronger revenue trends in its core Corporate and NetCentric businesses before the stock can move sustainably higher from current levels, the firm added.