Triton Research Launches Coverage of Upcoming IPO Zayo Group
Triton Research initiated coverage on the upcoming IPO for US Telecommunications infrastructure provider, Zayo Group, with a 7.05 rating, which is slightly above the firm’s average IPO rating of 6.56.
“Zayo Group generates over $1bn in revenue and exhibits impressive customer retention and per customer revenue growth,” Triton Research said in its report. They added, “Management is solid and has used prior telecom experience to build the business in a relatively short amount of time. Zayo has been acquisitive (completed 30 acquisitions), so it will be difficult to estimate the real profitability of the company once its growth rate normalizes. Other issues for Zayo include its $2,970.7mn in total debt (as of Mar. 31, 2014) and the possibility of issues arising in the overall telecom industry.”Read full article at streetinsider.com