Savvis (SVVS) shares are trading higher after SunTrust Robinson Humphrey analyst Robert Dezego upped his rating� to Buy from Neutral, setting a price target of $20. The stock closed yesterday at $15.65.
The analyst writes that strong recent bookings support “a healthy” second half revenue growth outlook. He notes that management has indicated that the company is running ahead of plan for bookings, recurring revenue, adjusted EBITDA, installations and renewals. He thinks Street 2010 estimates could be conservative.
Dezego also thinks the company could be an attractive takeout candidate.
SVVS is up $1.02, or 6.5%, to $16.67.
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