SunTrust Starts CBEYOND (CBEY) at Buy
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SunTrust Robinson Humphrey initiates coverage on CBEYOND, Inc. (Nasdaq: CBEY) with a Buy rating and $22 price target.
Commenting on its Buy rating on CBEYOND, the firm said, "We see upside for Cbeyond as a share taker, despite a difficult near-term small business environment. This is a niche opportunity to bring simple telecom bundles to small businesses with 5-30 employees. Cbeyond's application loaded suite of products, including wireless, is sold via a direct sales force that meets face-to-face and offers personalized and consultative attention typically reserved for larger enterprises. Cbeyond's young, aggressive, highly commission-based sales force blankets the addressable market to grow market share. While current market conditions will likely slow productivity across all markets, we believe this sales and marketing approach will yield strong long-term results."
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