TD Cowen analyst Gregory Williams upgraded Cogent Communications to Outperform from Market Perform with a price target of $85, up from $65. The company has an “underappreciated opportunity” to capture a portion of the lucrative $2B-plus wavelength market, the analyst tells investors in a research note. The firm says the opportunity is “too hard to ignore.” Cogent will look to leverage the Sprint fiber network and essentially become a new entrant into the waves market, contends TD.
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Read More on CCOI:
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