Cogent Communications (CCOI) PT Lowered to $40 at TD Cowen

TD Cowen analyst Greg Williams lowered the price target on Cogent Communications (NASDAQ: CCOI) to $40.00 (from $52.00) while maintaining a Buy rating.

The analyst commented: "Still No Data Center Sales, Waves Progress Still Elusive; CCOI posted mixed results but trumped by a failure to sell the data centers messaged last call, lackluster Waves progress, and no longer disclosing key Waves funnel metrics. Shares rallied 60%+ following post-Nov. lows, giving much of it back as we are in essentially the same "show me" place. A 2027 refi, while costly, would quell a bear narrative and buy time to get both initiatives time to work."

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