Benchmark Starts InterXion Holding (INXN) at Buy, Sees 18% Revenue Growth & 20% EBITDA for 2011
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Price: $77.41 --0%
Rating Summary:
14 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
14 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Benchmark initiates coverage on shares of InterXion Holding (NYSE: INXN) with a Buy rating and $17 price target.
The firm reports InterXion provides outsourced communications real-estate at key connectivity hubs, this generates recurring revenue and a 38% EBITDA margin.The company is expected to experience revenue growth of 15 percent over the next five years. Total revenue growth in 2010 was 21 percent and is expected to be 18 percent this year. Benchmark believes that INXN will see 20 percent EBITDA growth this year to €95 million, high-end of the company's guidance.
With the the European data center market being less mature than North America's, Benchmark fells confident in INXN's growth ability with there only being three competitors.
Benchmark comments, "InterXion went public in January 2011 at $13 per share. Yet it trades at only 8x 2011E EBITDA, below peers.The fully diluted market capitalization is currently about $950 million. Roughly half of InterXion’s shares are owned by Baker Capital and management with a lock-up that expires late this month."
For more ratings news on InterXion Holding click here and for the rating history of InterXion Holding click here.
Shares of InterXion Holding closed at $14.20 yesterday.
The firm reports InterXion provides outsourced communications real-estate at key connectivity hubs, this generates recurring revenue and a 38% EBITDA margin.The company is expected to experience revenue growth of 15 percent over the next five years. Total revenue growth in 2010 was 21 percent and is expected to be 18 percent this year. Benchmark believes that INXN will see 20 percent EBITDA growth this year to €95 million, high-end of the company's guidance.
With the the European data center market being less mature than North America's, Benchmark fells confident in INXN's growth ability with there only being three competitors.
Benchmark comments, "InterXion went public in January 2011 at $13 per share. Yet it trades at only 8x 2011E EBITDA, below peers.The fully diluted market capitalization is currently about $950 million. Roughly half of InterXion’s shares are owned by Baker Capital and management with a lock-up that expires late this month."
For more ratings news on InterXion Holding click here and for the rating history of InterXion Holding click here.
Shares of InterXion Holding closed at $14.20 yesterday.
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