UPDATE: Credit Suisse Upgrades CoreSite Realty (COR) to Outperform
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Credit Suisse analyst Sami Badri upgraded CoreSite Realty (NYSE: COR) from Neutral to Outperform with a price target of $161.00.
The analyst comments "Enterprise Strength Expected in 2021, Positioning COR Well: Companies including Equinix, Cisco, Arista, Juniper, and VMware have all noted building enterprise momentum going into 2021 and their commentary, as well as our industry channel checks alongside an industry data provider’s survey, imply that enterprise demand will be robust in 2021, bolstering COR’s relevance and growth prospects. Given COR’s revenue mix is ~45% enterprise, an uptick in enterprise activity can accelerate interconnection revenues, a high margin business that COR can monetize more closely as activity ramps."
Shares of CoreSite Realty closed at $119.15 yesterday.
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