Cogent price target raised to $82 from $76 at Oppenheimer

Oppenheimer raised the firm’s price target on Cogent to $82 from $76 and keeps an Outperform rating on the shares. Cogent reported strong results in its first full quarter with acquired Sprint assets and is now six-months into integration, which is progressing better than expected, highlighted by a major beat in EBITDA driven by lower restructuring costs and stronger synergies, the analyst tells investors in a research note.