Wachovia Downgrades Cogent Communication (CCOI) to Maket Perform
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Wachovia downgrades Cogent Communication (NASDAQ: CCOI) from Outperform to Market Perform, following disappointing Q2 and lower guidance. The firm said CCOI continues to struggle with sales productivity and limited to no traffic growth. The also said there is no evidence that cutting prices has worked.
Cogent Communications Group, Inc. and subsidiaries provides high-speed Internet access and Internet Protocol, or communications services to small and medium-sized businesses, communications service providers, and other bandwidth-intensive organizations.
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