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Revenue growth prospects get Zayo added to Goldman's Conviction Buys

Oct. 31, 2016 6:53 PM ETZayo Group Holdings, Inc. (ZAYO) StockZAYOBy: Jason Aycock, SA News Editor
  • Zayo Holdings (ZAYO +0.6%) hit a 52-week high today as Goldman Sachs added it to the firm's Americas Conviction List on prospects of strong revenue growth.
  • Analyst Brett Feldman has a price target of $39, implying more than 21% upside in shares from today's close.
  • “In our view, Zayo is among the most attractively valued providers of telecom infrastructure,” Feldman writes. Core revenue growth should accelerate from 8% to almost 10% in the near term, including "accelerated growth in major cloud platforms (Azure), roll-outs of new OTT video services (DirecTV Now), ramping small cell deployments (Crown Castle) and planned deployments of fixed wireless broadband (Google).”

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