Deutsche Bank Upgrades ChinaCache (CCIH) to Buy; Margin Bottoming While Traffic Demand Robust
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Price: $4.12 -0.24%
Rating Summary:
1 Buy, 1 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
Rating Summary:
1 Buy, 1 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
Trade CCIH Now!
Deutsche Bank upgraded ChinaCache (NASDAQ: CCIH) to Buy. PT US$19.
Deutsche analyst says, "ChinaCache reported a much lower cash gross margin than we expected in 4Q (7 March) due to much stronger demand from the lower margin video vertical. Its share price since then has declined 27% from USD19.7 to USD14.35. We believe the market has overreacted to CCIH's margin compression. Our overarching investment thesis for the company remains intact, supported by strong growth in internet traffic volume, low CDN penetration rate and current market leadership."
For more ratings news on ChinaCache click here and for the rating history of ChinaCache click here.
Shares of ChinaCache closed at $14.35 yesterday, with a 52 week range of $14.10-$35.00.
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Deutsche analyst says, "ChinaCache reported a much lower cash gross margin than we expected in 4Q (7 March) due to much stronger demand from the lower margin video vertical. Its share price since then has declined 27% from USD19.7 to USD14.35. We believe the market has overreacted to CCIH's margin compression. Our overarching investment thesis for the company remains intact, supported by strong growth in internet traffic volume, low CDN penetration rate and current market leadership."
For more ratings news on ChinaCache click here and for the rating history of ChinaCache click here.
Shares of ChinaCache closed at $14.35 yesterday, with a 52 week range of $14.10-$35.00.
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