Post by gutset on Sept 4, 2019 16:05:38 GMT
BUZZ-Internap: Raymond James downgrades, says sale of co is likely further out than previously expected
11:48 AM ET, 09/04/2019 - Reuters
** Shares of data center services provider down 4.1% at $2.12 after Raymond James downgrades to "outperform" from "strong buy"
** Brokerage says downgrade is on the basis that monetization of assets and/or sale of co is likely further out than previously anticipated
** "We remain confident the value of INAP is materially higher, but it is likely to take asset sales to convince investors and ultimately a suitor" - Raymond James
** "There have been several positive developments in recent days that improve the outlook for INAP, however, the underlying message is that it will be a longer road to recovery than a Strong Buy warrants," brokerage adds. Price target remains at 10.
11:48 AM ET, 09/04/2019 - Reuters
** Shares of data center services provider down 4.1% at $2.12 after Raymond James downgrades to "outperform" from "strong buy"
** Brokerage says downgrade is on the basis that monetization of assets and/or sale of co is likely further out than previously anticipated
** "We remain confident the value of INAP is materially higher, but it is likely to take asset sales to convince investors and ultimately a suitor" - Raymond James
** "There have been several positive developments in recent days that improve the outlook for INAP, however, the underlying message is that it will be a longer road to recovery than a Strong Buy warrants," brokerage adds. Price target remains at 10.