Csquare edges higher as research quiet period ends with mostly bullish calls
BUZZ-Csquare edges higher as research quiet period ends with mostly bullish calls ** Shares of brookfield-backed Csquare CSQR.N rise 3.4% to $22.60 after at least eight brokerages initiate coverage with largely bullish calls as research-quiet period ends
** The data center provider secured a valuation of $3.2 billion after shares opened at $20.90 vs offer price of $21 in NYSE debut
** "As an enterprise colocation provider, Csquare operates in an industry that is experiencing multiple secular tailwinds, supporting pricing and demand for capacity and interconnectivity" - J.P.Morgan
** "The company's ~670 MW under-roof expansion pipeline represents what we view as its most differentiated source of future value creation" - Jefferies
** Csquare stock misprices growth potential and the ability to address an increasingly supply constrained market, in our view, says BofA analysts
** Adds, Csquare can address the AI and enterprise data center bottleneck with faster time to market and lower development cost
** Including session's move, CSQR up 6% since its debut on July 16
Brokerages | Rating | PT |
BofA | Buy | $46 |
Bernstein | Outperform | $27 |
BMO | Outperform | $26 |
Wells Fargo | Overweight | $25 |
Jefferies | Buy | $29 |
TD Cowen | Buy | $28 |
J.P. Morgan | Neutral | $24 |
RBC Capital Markets | Outperform | $24 |
(Reporting by Pragyan Kalita in Bengaluru)
((Pragyan.Kalita@thomsonreuters.com;))
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