Canaccord Genuity Maintains a 'Hold' on Cbeyond (CBEY); Model In Transition
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Price: $9.99 --0%
Rating Summary:
1 Buy, 9 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
1 Buy, 9 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Canaccord Genuity maintains a 'Hold' on Cbeyond (NASDAQ: CBEY) price target raised to $9.00.
Analyst, Greg Miller, said, "We continue to rate Cbeyond a HOLD as it attempts to transition its business model from a pure resale CLEC business model to that of a Cloud Computing company – a business in which valuations are far richer than a CLEC could generate today. Despite the Q1/12 results that were better than expected (admittedly draconian), we believe investors should wait for a more complete transition of its business model before rushing back to this once well loved stock. Although we believe such a significant business model transition is possible, we note that the track record of the industry has not been kind to investors."
For an analyst ratings summary and ratings history on Cbeyond click here. For more ratings news on Cbeyond click here.
Shares of Cbeyond closed at $6.69 yesterday.
Analyst, Greg Miller, said, "We continue to rate Cbeyond a HOLD as it attempts to transition its business model from a pure resale CLEC business model to that of a Cloud Computing company – a business in which valuations are far richer than a CLEC could generate today. Despite the Q1/12 results that were better than expected (admittedly draconian), we believe investors should wait for a more complete transition of its business model before rushing back to this once well loved stock. Although we believe such a significant business model transition is possible, we note that the track record of the industry has not been kind to investors."
For an analyst ratings summary and ratings history on Cbeyond click here. For more ratings news on Cbeyond click here.
Shares of Cbeyond closed at $6.69 yesterday.
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