Raymond James Remains a Buy on GTT Communications (GTT)


In a report released today, Frank Louthan from Raymond James maintained a Buy rating on GTT Communications (NYSE: GTT), with a price target of $53. The company’s shares opened today at $39.75.

According to TipRanks.com, Louthan is a 4-star analyst with an average return of 6.3% and a 63.2% success rate. Louthan covers the Technology sector, focusing on stocks such as Frontier Communications Corporation, Consolidated Comms, and GDS Holdings Ltd.

GTT Communications has an analyst consensus of Moderate Buy, with a price target consensus of $43.20, representing an 8.7% upside. In a report issued on August 5, Cowen & Co. also reiterated a Buy rating on the stock with a $57 price target.

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The company has a one-year high of $62.32 and a one-year low of $28.30. Currently, GTT Communications has an average volume of 570.3K.

Based on the recent corporate insider activity of 143 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of GTT in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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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