Maintaining the century interconnected stock holdings rating

Source: Internet
Author: User
Keywords century interconnected elevated

The following is a summary of the contents of the report:

In view of the strong fiscal year 2013 and the first quarter results of fiscal year 2014, we are still bullish on the future of the century interconnection. Thanks to infrastructure investments completed last year, such as the establishment of large data centers and cloud computing infrastructures, we expect the interconnection of the century to continue to grow strongly this year.

Financial quarter performance: Managed services revenue growth of 40% year-on-year, mainly thanks to the capacity of 20% year-on-year increase, utilization rate increased by 5%, the price increased by 2%. The Management Network Service MNS revenue is 11% higher than the guidance forecast, the cloud revenue achieves 1.45 million U.S. dollars, above 1 million US dollar directive anticipation.

Fiscal year 2014: Century interconnection plans to increase the number of 10,000 cabinets, the utilization rate of more than 70%. 2/3 of the capacity in the north, the price increased by 30%. Century interconnection said that the current annual capacity of 25% of the supply has been booked. Century interconnection expects cloud revenues to account for 10% of total revenue this year, accounting for 20% per cent of EBITDA, the profit before tax depreciation and amortization.

Signed a strategic agreement with Huawei: the two sides will jointly build the century-leading telecommunications neutral third party data center, the overall upgrade of the century Interconnection data center construction speed, in response to the growing market demand. This year, this investment year, this will become the main delivery of the century interconnection products.

Valuation: We continue to maintain the "overweight" rating of the century interconnected stock, raising the target share price from 27 US dollars to $35.

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