Oppenheimer Keeps Their Buy Rating on GTT Communications (GTT)


Oppenheimer analyst Timothy Horan maintained a Buy rating on GTT Communications (GTT) today and set a price target of $50. The company’s shares opened today at $38.68.

Horan said:

“Organic growth fell to -0.7%, from 0.7% last quarter, but we expect improving growth in 2H19. Total revenue was $450.2M vs. our $455.8M est., and we look for more color on the quarter. Sales force and improving product is key for GTT to get to positive organic growth, and management is targeting 350 reps by end of 2019, which could pressure margins a bit. Positively, gross margins were up 150 bps and adj. EBITDA margins up 130 bps Q/Q, driven by synergy realization. GTT continues to progress toward its next financial targets of $3B in annualized revenue, $900M in annualized adj. EBITDA and at least $5/share in FCF. This will have to come from acquisitions, but they have a good track record.”

According to TipRanks.com, Horan is a top 25 analyst with an average return of 17.3% and a 76.5% success rate. Horan covers the Technology sector, focusing on stocks such as Interxion Holding NV, Boingo Wireless Inc, and Limelight Networks.

Currently, the analyst consensus on GTT Communications is a Strong Buy with an average price target of $48.

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The company has a one-year high of $52.90 and a one-year low of $21.68. Currently, GTT Communications has an average volume of 344.7K.

Based on the recent corporate insider activity of 137 insiders, corporate insider sentiment is neutral on the stock.

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GTT Communications, Inc. engages in the provision of cloud networking services to multinational clients. It offers broad portfolio of global services including private networking; Internet; optical transport; Software Defined Wide Area Networking; managed services; voice and unified communications; video transport; and access services.

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