BofA raised the firm’s price target on Cogent to $75 from $70 and keeps a Neutral rating on the shares. Communications infrastructure earnings season ended with multiple companies posting Q2 beats, the analyst tells investors in a research note. The firm says data center demand remains strong for both traditional and artificial intelligence use cases. It believes both data centers and towers will benefit from lower interest rates but says impact for towers will likely be larger.
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Read More on CCOI:
- Cogent price target raised to $82 from $78 at TD Cowen
- Cogent increases quarterly dividend 1% to 98.5c per share
- Cogent reports Q2 EPS (68c), consensus ($1.27)
- Cogent Communications Reports Second Quarter 2024 Results and Increases its Regular Quarterly Dividend on its Common Stock
- CCOI Earnings this Week: How Will it Perform?
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