Oppenheimer Believes Interxion Holding NV (INXN) Still Has Room to Grow

Oppenheimer analyst Timothy Horan maintained a Buy rating on Interxion Holding NV (NYSE: INXN) today and set a price target of $73. The company’s shares opened today at $65.50, close to its 52-week high of $67.19.

Horan noted:

“INXN increased 2018 capex guidance by 16% this morning on the heels of a capital- intensive 2Q (beating our capex estimates by 30%). The increase in capex is a positive, as management is signaling strong demand across their entire footprint of datacenters. We now expect INXN to add 24.5K sq. meters in 2019 (previously 22K), more than double the 11.7K it added in 2017. The aggressive growth will likely impact reported utilization rates, margins and ARPU in the short term but strong demand should more than offset this longer term. We adjust our model accordingly, with the biggest change to higher Capex spending. We are increasing our PT to $73 (from $70), based on ~18x our 2019E EBITDA and supported by our DCF analysis.”

According to, Horan is a top 25 analyst with an average return of 19.2% and a 80.9% success rate. Horan covers the Technology sector, focusing on stocks such as Boingo Wireless Inc, Zayo Group Holdings, and Limelight Networks.

Currently, the analyst consensus on Interxion Holding NV is a Strong Buy with an average price target of $71.75.

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The company has a one-year high of $67.19 and a one-year low of $49.15. Currently, Interxion Holding NV has an average volume of 428.2K.

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InterXion Holding NV engages in the provision of carrier and cloud-neutral data centre services. It operates through the following business segments: Big4, Rest of Europe, and Corporate and Other. The Big4 segment is comprised of France, Germany, the Netherlands, and the United Kingdom.

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