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China's 21Vianet Group +7.4% on Morgan Stanley upgrade

Oct. 04, 2017 9:20 AM ETVNET Group, Inc. (VNET) StockVNETBy: Jason Aycock, SA News Editor
  • Data-center services firm 21Vianet Group (NASDAQ:VNET) is up 7.4% premarket on an upgrade to Overweight at Morgan Stanley, which calls it the top pick in China Internet infrastructure.
  • Comparable revenue growth will flip from flat or declining to double-digit growth in 2018, says analyst Yang Liu, thanks to 21Vianet getting out of its unprofitable Managed Network Services businesses.
  • The company's EV/EBITDA looks good compared to peers in the U.S. and China, the firm says.
  • A raised price target of $9.50 (from $6.30) implies 63.5% upside in shares.

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