TD Cowen lowered the firm’s price target on Cogent (CCOI) to $93 from $97 and keeps a Buy rating on the shares. Cogent posted “modest downside results,” upsized its long-term revenue growth targets to 6%-8%, and cut its typical dividend growth expectations, driven by the prolonged, but still expected, data center sales needed for deleveraging, the analyst tells investors. The firm sees the stock pullback as a buying opportunity as data center sales should restore accelerated capital returns, the analyst added.
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Read More on CCOI:
- Cogent price target lowered to $75 from $102 at UBS
- Cogent Communications Reports Q1 2025 Earnings and Dividend Increase
- Cogent Comms: Strategic Adjustments and Growth Potential Present a Buying Opportunity
- Cogent Communications’ Earnings Call: Mixed Sentiments and Future Prospects
- Cogent reports Q1 adjusted EBITDA $68.8M vs. $115.0M last year.
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