Bank of America Previews 2Q Earnings at Cinncinnati Bell

Bank of America published a report today on Cinncinnati Bell Inc CBB previewing an upcoming conference call on the quarter. In the report, Bank of America wrote, "Data center expansion plans. CBB expects to add 55k ft to its CyrusOne facilities and 10k ft of capacity to its OH-based facilities by the end of 2011. We will be listening for any change to these targets and are modeling ending 2Q capacity of 684k ft (+25k ft), with an average utilization of 89%. We are also interested in colocation ARPU, which we believe should grow, as the higher-ARPU CyrusOne facilities increase as a percent of total square footage. We are looking for ARPU of $25.47, up 1.3% from $25.14 in 1Q11." Bank of America rated Cinncinnati Bell an Underperform with a price target of $2.50. Cinncinnati Bell closed Tuesday at $3.45.