UPDATE: Oppenheimer Starts Boingo Wireless (WIFI) at Outperform
- Netflix, Inc. (NFLX) Tops Q4 EPS by 1c; Subs Beat Views
- S&P 500 ends up slightly with boost from financials; Netflix up late
- Nestle Said Examining Takeover of Mead Johnson (MJN) - Source
- La Quinta Holdings (LQ) Gains on Plan to Split in Two
- After-Hours Stock Movers 01/18: (OCLR) (CSX) (NFLX) Higher; (AMDA) (RCII) (ZYNE) Lower (more...)
Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a FREE trial here.
(Updated - September 14, 2016 9:32 AM EDT)
Oppenheimer initiated coverage on Boingo Wireless (NASDAQ: WIFI) with an Outperform rating and a price target of $12. Analyst Timothy Horan said the company is well positioned to leverage data growth.
"Boingo is well through a radical transformation that positions it to benefit from the secular growth in data usage. We expect mobile data traffic to grow 10x in the next six years, and Boingo can uniquely aid this growth through small cells that combine LTE and Wi-Fi roaming to wireless and cable operators. Boingo can be the low-cost provider of offloaded wireless data traffic in dense areas. We believe growth in data usage will necessitate a 25-50% increase in cell site equivalent locations, driving 20%plus growth in small cell growth (Wi-Fi and LTE). Given the secular tailwinds, we believe that Boingo can grow revenue by 12% and EBITDA by 15% per year," said Horan.
Shares of Boingo Wireless closed at $8.94 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Target (TGT) PT, Estimates Cut at Buckingham Research Following Miss
- Jefferies Starts Palo Alto Networks (PANW) at Hold
- Macquarie Downgrades Pearson PLC (PSO) to Neutral
Create E-mail Alert Related CategoriesAnalyst Comments, Hot Comments, New Coverage
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!