UPDATE: Jefferies Upgrades Switch Inc. (SWCH) to Buy

(Updated - January 13, 2021 8:30 AM EST)

Jefferies analyst Jonathan Petersen upgraded Switch Inc. (NYSE: SWCH) from Hold to Buy with a price target of $22 (from $18).

The analyst commented, "With SWCH open in four regions and past the initial investment period, the company earnings growth has inflected with an acceleration of leasing volume along with margin expansion driving our expectation of sector-leading AFFO/sh growth through 2024. This growth comes at an attractive valuation with SWCH trading at the lowest AFFO multiple within the data center group (15.5x '22 AFFO vs peers at 21.7x). Increase PT to $22 from$18. Upgrade to Buy from Hold."

For an analyst ratings summary and ratings history on Switch Inc. click here. For more ratings news on Switch Inc. click here.

Shares of Switch Inc. closed at $16.15 yesterday.

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