Cogent GTT Communications to benefit from cloud growth, says Pacific Crest Pacific Crest expects Cogent (CCOI) and GTT (GTT) to benefit from their ability to effectively connect organizations with data centers, as well as provide high-volume ports within data centers. The firm predicts that the companies will be boosted by the increase in connections between organizations and various cloud providers. It keeps an Outperform rating on Cogent.
UPdate: GTT Communications 3.5M share Spot Secondary priced at $12.75 The deal size was increased to 3.5M shares from 3M shares and priced between the $12.50-$13.00 range. Jefferies and William Blair acted as joint book running managers for the offering.