KeyBanc analyst Brandon Nispel raised the firm’s price target on Cogent (CCOI) to $71 from $64 and keeps an Overweight rating on the shares. The analyst reiterates that Cogent is one of his favorite ideas in 2023 due to accelerating core business with a recovery in Corporate and Net-Centric remaining healthy for longer; T-Mobile (TMUS) transaction being accretive only assuming cost synergies and conservatively not assuming new growth, which could meaningfully improve the opportunity, and Cogent’s 6.5% dividend yield, which looks inexpensive relative to the 10-year average of 4.7% and is inexpensive relative to the 10-year spread vs. the 10-year treasury.
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on CCOI: