BMO Capital Markets initiated coverage on shares of Switch Inc (NASDAQ:SWCH) in a research report issued to clients and investors on Tuesday. The brokerage set an “outperform” rating and a $23.00 price target on the stock. BMO Capital Markets’ price objective indicates a potential upside of 20.23% from the company’s current price.
A number of other equities research analysts have also weighed in on the stock. Citigroup Inc. assumed coverage on shares of Switch in a report on Tuesday. They issued a “neutral” rating and a $22.00 price objective for the company. Wells Fargo & Company assumed coverage on shares of Switch in a report on Tuesday. They issued a “market perform” rating for the company. J P Morgan Chase & Co assumed coverage on shares of Switch in a report on Tuesday. They issued an “overweight” rating and a $22.00 price objective for the company. Jefferies Group LLC assumed coverage on shares of Switch in a report on Tuesday. They issued a “hold” rating for the company. Finally, Goldman Sachs Group, Inc. (The) assumed coverage on shares of Switch in a report on Tuesday. They issued a “neutral” rating for the company. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $22.20.
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In other Switch news, insider Erin Thomas Morton acquired 300,000 shares of the stock in a transaction dated Wednesday, October 11th. The stock was purchased at an average cost of $17.00 per share, for a total transaction of $5,100,000.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Switch, Inc is a technology infrastructure company. The Company is developer and operator of the SUPERNAP, data center facilities, and provides colocation, telecommunications, cloud services, and content ecosystems. The Company designs, constructs and operates hyperscale data centers that address the growing challenges facing the data center industry.
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