UPDATE: Canaccord Genuity Downgrades InterXion Holding (INXN) to Hold

Canaccord Genuity downgraded InterXion Holding (NYSE: INXN) from Buy to Hold with a price target of $32 (unchanged). The change follows Q4 results and is tied to valuation.

Analyst Gregory Miller said, "While we continue to like the company’s prospects as global colocation demand remains strongly supported by cloud adoption, the stock’s appreciation following the merger announcement creates full valuation. Though potential upside exists if a new bidder or bidders enter the fray, we do not have a high degree of confidence in such a scenario to justify a price target with sufficient upside to maintain our Buy rating."

For an analyst ratings summary and ratings history on InterXion Holding click here. For more ratings news on InterXion Holding click here.

Shares of InterXion Holding closed at $30.23 yesterday.

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