Cogent shares fall after J.P. Morgan cuts rating, price target

Cogent Communications Holdings

19/08/2026 09:06

** Shares of internet provider Cogent Communications CCOI.O fall 5% to $9.6 premarket
** J.P. Morgan downgrades rating to "underweight" from "neutral"; cuts PT to $9 from $22
** Brokerage says continued revenue pressure from the runoff of legacy Sprint contracts and ongoing execution issues in Waves, co's optical networking business, where customer installations and adoption have been slower than expected
**  "With the data center monetization catalyst now largely behind us, we believe investor focus will increasingly shift back to these core operating and balance sheet concerns"- JPM
** Twelve analysts rate stock "hold" on average; median PT is $13 - data compiled by LSEG
** Up to last close, stock had fallen 53% YTD 

(Reporting by Akriti Shah in Bengaluru)
((akriti.shah@thomsonreuters.com ; X, formerly Twitter: @AkritiShahh)))