Cogent Communications Shares Fall After UBS, Wells Fargo Downgrades

MT Newswires Live

11/08

Cogent Communications (CCOI) shares fell 3.7% in recent Friday trading after UBS downgraded the stock to neutral from buy and cut its price target to $27 from $50, while Wells Fargo lowered its rating to equalweight from overweight and trimmed its target to $27 from $45.

Trading volume stood at about 2.5 million shares, versus the daily average of 1.6 million.

Price: 23.89, Change: -1.06, Percent Change: -4.25

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