- Credit Suisse analyst Sami Badri initiated coverage of Cyxtera Technologies Inc CYXT with an Outperform rating and a $15 price target.
- The price target implied an upside of 20% from current levels.
- Cyxtera is a data center operator in the retail colocation segment, previously a part of Lumen's portfolio.
- Cyxtera's occupancy rate of 70.9% lagged the data center peer average of 79.8%, considering the recent strengthening enterprise leasing dynamics seen industry-wide.
- Cyxtera beat the Q4 FY21 consensus and issued FY22 guidance above the consensus.
- Price Action: CYXT shares traded higher by 5.04% at $13.12 in the market session on the last check Thursday.
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