Interxion (INXN) Reports Solid 3Q Results; Cowen Reiterates Market Perform
Cowen reiterated a Market Perform rating on InterXion Holding (NYSE: INXN), and raised the price target to $33.00 (from $30.00), following the company's 3Q15 earnings report. INXN reported solid 3Q15 results including revenue/EBITDA slightly ahead of expectations and maintained 2015 guidance. The company continues to see strong demand from the cloud which appears sustainable heading into 2016 with management noting it is seeing increased cloud oriented demand outside its "Big 4" markets.
Analyst Colby Synesael commented, "INXN reported solid 3Q15 results including rev/EBITDA slightly ahead of expectations and while it maintained 2015 guidance is likely heading towards the high-end. Business remains strong and appears sustainable heading into 2016 driven largely by demand for all things cloud however this already seems to be largely reflected in valuation thus making it less compelling on a stock basis."
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Shares of InterXion Holding closed at $28.91 yesterday.