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Zayo Stock Price Target Raised at Oppenheimer

NEW YORK (TheStreet) -- Zayo's (ZAYO) stock price target was increased to $35 from $32 at Oppenheimer. The firm has an "outperform" on shares.

The higher price target comes after the Boulder, CO-based provider of bandwidth infrastructure posted better-than-expected revenue for the 2016 fiscal fourth quarter last week.

"ZAYO reported a solid FY4Q16, beating our revenue/EBITDA estimates by 2%/3% respectively, driven by upside from Allstream," Oppenheimer wrote in a note.

"Aside from lower than expected bookings due to a...