Cogent price target raised to $74 from $69 at RBC Capital

RBC Capital raised the firm’s price target on Cogent to $74 from $69 and keeps an Outperform rating on the shares. The firm is updating its model after the company closed on the Sprint wireline assets during the quarter and also posted positive corporate revenue trends for its legacy business, the analyst tells investors in a research note. RBC also remains positive on Cogent’s robust AFFO/share growth given the company’s mostly fixed costs and low utilization levels.