Including the session's move, CSQR was up 6% since its debut on July 16.
Brokerages
Rating
PT
BofA
Buy
$46
Bernstein
Outperform
$27
BMO
Outperform
$26
Wells Fargo
Overweight
$25
Jefferies
Buy
$29
TD Cowen
Buy
$28
J.P. Morgan
Neutral
$24
RBC Capital Markets
Outperform
$24
Shares rise as brokerages begin coverage
Shares of Brookfield-backed Csquare CSQR.N rose 3.4% to $22.60 after at least eight brokerages initiated coverage with largely bullish calls as the research-quiet period ended.
The data center provider secured a valuation of $3.2 billion after shares opened at $20.90 versus the offer price of $21 in its NYSE debut.
Analyst views on growth and capacity demand
"As an enterprise colocation provider, Csquare operates in an industry that is experiencing multiple secular tailwinds, supporting pricing and demand for capacity and interconnectivity" - J.P. Morgan
"The company's ~670 MW under-roof expansion pipeline represents what we view as its most differentiated source of future value creation" - Jefferies
Csquare stock misprices growth potential and the ability to address an increasingly supply constrained market, in our view, says BofA analysts.
CSQR•
