Collins Stewart Upgrades Cogent Communications (CCOI) to Buy; Solid 2Q11 Results - Guidance Likely Conservative

Collins Stewart upgraded Cogent Communications (NASDAQ: CCOI) from Neutral to Buy with a price target of $18.00.

Collins analyst says, "We are upgrading Cogent Communications to a Buy rating on the heels of yet another solid quarter with some additional visibility into the second half of the year and early 2012 that would suggest accelerating revenue growth and significantly improving margins. Since 3Q10, year over year revenue growth has steadily accelerated and with recent promotions not yet having impacted the top line. We would expect that trend to continue.

For more ratings news on Cogent Communications click here and for the rating history of Cogent Communications click here.

Shares of Cogent Communications closed at $14.24 yesterday.

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