Deutsche Bank Starts Boingo Wireless (WIFI) at Buy; High Growth Play on Mobile Broadband at Steep Discount

Deutsche Bank initiates coverage on Boingo Wireless (NASDAQ: WIFI) with a Buy. PT $15.

Deutsche analyst says, "Our positive view is based on 3 key factors. (1) WIFI stands to benefit from key secular trends such as the rapid adoption of smartphones and tablets. (2) An attractive recurring revenue model with low customer acquisition costs and low core capex. (3) Attractive valuation: WIFI is trading at a 30% discount to key Internet IaaS comps despite EBITDA growth that is 60% faster with half the capital intensity."

For more ratings news on Boingo Wireless click here and for the rating history of Boingo Wireless click here.

Shares of Boingo Wireless closed at $7.65 yesterday.

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