Switch Inc (SWCH) Now Covered by Credit Suisse Group
Credit Suisse Group began coverage on shares of Switch Inc (NASDAQ:SWCH) in a research note issued on Tuesday. The firm set an “outperform” rating and a $22.00 price target on the stock. Credit Suisse Group’s target price indicates a potential upside of 15.00% from the company’s previous close.
The analysts wrote, “We project strong performance amid the company’s heavy ramp of planned data center campus expansions all projected to be complete by FY 2019, accelerating revenue growth to 21%, well ahead of data center peers. With customer churn levels of 1.1%, we expect solid business scale with little business disruption as new data center campuses begin monetizing space.””
Several other equities analysts also recently commented on the stock. BMO Capital Markets began coverage on shares of Switch in a research note on Tuesday. They issued an “outperform” rating and a $23.00 price objective for the company. Citigroup Inc. began coverage on shares of Switch in a research note on Tuesday. They issued a “neutral” rating and a $22.00 price objective for the company. Wells Fargo & Company began coverage on shares of Switch in a research note on Tuesday. They issued a “market perform” rating for the company. J P Morgan Chase & Co began coverage on shares of Switch in a research note on Tuesday. They issued an “overweight” rating and a $22.00 price objective for the company. Finally, Jefferies Group LLC began coverage on shares of Switch in a research note on Tuesday. They issued a “hold” rating for the company. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $22.20.
In other Switch news, insider Erin Thomas Morton purchased 300,000 shares of the firm’s stock in a transaction on Wednesday, October 11th. The stock was purchased at an average cost of $17.00 per share, for a total transaction of $5,100,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.
Switch, Inc is a technology infrastructure company. The Company is developer and operator of the SUPERNAP, data center facilities, and provides colocation, telecommunications, cloud services, and content ecosystems. The Company designs, constructs and operates hyperscale data centers that address the growing challenges facing the data center industry.
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