BOULDER — Zayo Group Holdings Inc. (NYSE: ZAYO), which has decided to split into two public companies — Zayo Infrastructure, or InfraCo, and EnterpriseCo — was 17.8 percent lower premarket after its announcement and its earnings miss.
Several analysts downgraded Zayo and reevaluated its price targets after the announcement.
Sponsored Content
Lines of Credit and Working Capital Solutions for Business Owners
Having reliable access to working capital is critical to the health of any business. While there are many funding options, a secured line of credit is often the easiest and least expensive way to access working capital.
UBS dropped its price target from $45 to $32; however, it added that the planned split could unlock future value in the infrastructure business.
Cowen analyst Colby Synesael was harsher, saying that management’s credibility is near zero and that results were disappointing again. He kept Zayo’s status at Outperform but trimmed its price target from $43 to $37.
At time of publication, Zayo’s stock price had fallen 23 percent from market close to $23.39. Before Zayo’s announcement, its stock price was $30.39.
BOULDER — Zayo Group Holdings Inc. (NYSE: ZAYO), which has decided to split into two public companies — Zayo Infrastructure, or InfraCo, and EnterpriseCo — was 17.8 percent lower premarket after its announcement and its earnings miss.
Several analysts downgraded Zayo and reevaluated its price targets after the announcement.
Sponsored Content
Lines of Credit and Working Capital Solutions for Business Owners
Having reliable access to working capital is critical to the health of any business. While there are many funding options, a secured line of credit is often the easiest and least expensive way to access working capital.
UBS dropped its price target from $45 to $32; however, it added that the planned split could unlock future value in the infrastructure business.
Cowen analyst Colby Synesael was harsher, saying that management’s credibility is near zero and that results were disappointing again. He kept Zayo’s status at Outperform but trimmed its price target from $43 to $37.
At time of publication, Zayo’s stock price had fallen 23 percent from market close to $23.39. Before Zayo’s announcement, its stock price was $30.39.
…
First Bank – Making Your Business Big
BizWest TV Leadership Series – Adrian Tuck – Tendril
BizWest TV Leadership Series – Lou DellaCava – LJD Enterprises
BizWest TV Leadership Series – Frank Day – Boulderado
BizWest TV Leadership Series – Curt Richardson – OtterBox
BizWest TV Leadership Series – Richard Bisson – Waterpik
