Coresite Realty (COR) Receives a Hold from Credit Suisse


In a report issued on August 3, Sami Badri from Credit Suisse reiterated a Hold rating on Coresite Realty (NYSE: COR), with a price target of $112. The company’s shares closed on Friday at $114.30.

Badri said:

“We encourage investors to read our 2018 Data Center Outlook, “The Cloud Has Four Walls,” highlighting our views on the data center landscape including forecasts on the MTDC market, perspective on cloud on-ramps, SDN fabrics, M&A and strategic partnerships, and more.”

According to TipRanks.com, Badri is a 1-star analyst with an average return of -1.2% and a 52.6% success rate. Badri covers the Consumer Goods sector, focusing on stocks such as Motorola Solutions, Ubiquiti Networks, and CommScope Holding.

Coresite Realty has an analyst consensus of Moderate Buy, with a price target consensus of $117.88, which is a 3.1% upside from current levels. In a report issued on July 20, Guggenheim also reiterated a Hold rating on the stock with a $110 price target.

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Based on Coresite Realty’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $19.39 million. In comparison, last year the company had a net profit of $17.73 million.

Based on the recent corporate insider activity of 36 insiders, corporate insider sentiment is negative on the stock.

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CoreSite Realty Corp. is a real estate investment trust, which engages in the ownership, acquisition, construction and operation of strategically located data centers. The firm also offers collocation and interconnection solutions for networks, cloud services, and industry solutions. The company was founded in 2001 and is headquartered in Denver, CO.

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