- RBC Capital analyst Jonathan Atkin maintained Cyxtera Technologies Inc CYXT with an Outperform and raised the price target from $14 to $16.
- Atkin's recent fireside chat and meetings with CFO Carlos Sagasta at RBC's Global Communications Infrastructure conference touched on multiple financial, strategic, and operating topics.
- Atkins updated his model and increased the price target based on a higher terminal-value assumption in his DCF model.
- The management expected good demand visibility for 1-3 years. They saw the inflationary and recessionary environment as a positive for Cyxtera.
- Atkin expected Cyxtera to be more likely to focus on internal growth initiatives.
- Price Action: CYXT shares traded higher by 1.86% at $14.79 on the last check Monday.
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