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Oppenheimer analyst Timothy Horan maintained a Buy rating on Interxion Holding NV (NYSE: INXN) today and set a price target of $70. The company’s shares closed on Friday at $64.46, close to its 52-week high of $65.75.
Horan noted:
“Organic revenue growth was a robust 17% year/year in INXN’s 1Q18, as cloud adoption in Europe accelerated. INXN saw strong bookings from leading cloud providers who are adding nodes to their footprint to meet demand for cloud services. Bookings were strong across all its geographic footprint. We are increasing our PT to $70 from $68, as we believe strong momentum in cloud will be a catalyst for sustained growth. INXN has announced 38K square meters of new capacity in the last six months, a capacity increase of 30%. The new space will be open in two years across 11 countries to meet the healthy, broad-based demand that INXN is seeing. Our $70 PT is based on ~17x our 2019E EBITDA supported by our DCF framework.”
According to TipRanks.com, Horan is a top 100 analyst with an average return of 15.2% and a 71.9% 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 Strong Buy and the average price target is $71, representing a 10.1% upside.
In a report issued on May 3, Barclays also maintained a Buy rating on the stock with a $73 price target.
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Interxion Holding NV’s market cap is currently $4.6B and has a P/E ratio of 96.77. The company has a Price to Book ratio of 6.42.
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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.
