Oppenheimer Lifts PT on Zayo (ZAYO) to $35 Following Solid Q4 Report

August 30, 2016 9:29 AM EDT
Get Alerts ZAYO Hot Sheet
Price: $31.50 -1.32%

Rating Summary:
    14 Buy, 5 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 24 | Down: 17 | New: 14
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Oppenheimer boosts its price target on Outperform-rated Zayo Group (NYSE: ZAYO) from $32 to $35 following Q4 results reported last week.

The firm commented, Aside from lower than expected bookings due to a one-time contract cancellation/a delay in spending from a large customer (likely Google), trends were solid with record installs/consistent churn. Positively, the pace of installs accelerated which will help accelerate revenue growth in FY17. However, with gross installs greater than bookings, the service activation pipeline will decline. We expect this to continue in the near term and depending on larger deals in 2H16, this may cause a corresponding slowdown in FY18. However, we remain confident that the demand for fiber remains robust, and that ZAYO is well positioned.

For an analyst ratings summary and ratings history on Zayo Group Holdings click here. For more ratings news on Zayo Group Holdings click here.

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