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In a report released today, Sami Badri from Credit Suisse maintained a Buy rating on Switch Inc (NYSE: SWCH), with a price target of $19. The company’s shares closed yesterday at $13.16, close to its 52-week low of $13.02.
Badri noted:
“We note that the miss in colo. rev. was mainly due to a few large contract signings being pushed to Q2, whereas if they were signed in Q1, rev. would have seen a sequential increase. Given these updates and that 2018 guidance was reiterated, we leave our 2018 est. unchanged, but lower our TP to $19 (from $22) driven by our updated long-term DCF model.”
According to TipRanks.com, Badri has currently no stars on a ranking scale of 0-5 stars, with an average return of -6.4% and a 17.2% success rate. Badri covers the Consumer Goods sector, focusing on stocks such as Motorola Solutions, Ubiquiti Networks, and CommScope Holding.
Currently, the analyst consensus on Switch Inc is Moderate Buy and the average price target is $17.50, representing a 33.0% upside.
In a report issued on May 14, BMO Capital also maintained a Buy rating on the stock with a $20 price target.
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The company has a one-year high of $24.90 and a one-year low of $13.02. Currently, Switch Inc has an average volume of 940.4K.
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Switch, Inc. (Nevada) engages in the provision of technology infrastructure. It specializes in the development of digital platforms for digital media companies, cloud and managed service providers, financial institutions, and telecommunications providers. It operates through the following segments: Colocation, Connectivity, and Other.
