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Michael Rollins of Citi maintains its “buy“ rating for Cogent Communications Group Inc (NASDAQ: CCOI), while raising its earnings estimates for the company. The target price for CCOI is set to $63.

Citi expects CCOI to post recovery in its 4Q organic revenue growth on the back of improvement in sales productivity, prospects of positive free cash flow generation. Cogent Communications is likely to show margin expansion in Q4, CIti said.

Citi has raised its EPS estimate for 2009 and 2010 from -$0.44 to -$0.43 and from -$0.06 to -$0.04, respectively.

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It's been a week in which Wall Street has punished companies with negative surprises on their earnings or revenue guidance, including Internap (INAP) and Rackable (RACK). The latest casualty is Cogent Communications (CCOI) which lowered its revenue guidance for the remainder of 2008 when it...

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Cogent Communications (CCOI) has deployed additional points of presence (POPs) in Switch and Data (SDXC) data centers in Cleveland, Phoenix and Sunnyvale, Calif. Cogent already leased space in 29 of Switch and Data's 33 centers, meaning the company now has a presence in virtually every SDXC...

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