Credit Suisse Believes Switch (NYSE: SWCH) Won’t Stop Here

In a report released yesterday, Sami Badri from Credit Suisse assigned a Buy rating to Switch (SWCHResearch Report), with a price target of $23.00. The company’s shares closed last Friday at $18.48, close to its 52-week high of $19.56.

According to TipRanks.com, Badri is a 3-star analyst with an average return of 1.4% and a 50.0% success rate. Badri covers the Technology sector, focusing on stocks such as Motorola Solutions, Ubiquiti Networks, and CommScope Holding.

Switch has an analyst consensus of Strong Buy, with a price target consensus of $21.44, a 12.1% upside from current levels. In a report released today, BMO Capital also maintained a Buy rating on the stock with a $21.00 price target.

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The company has a one-year high of $19.56 and a one-year low of $10.30. Currently, Switch has an average volume of 1.66M.

Based on the recent corporate insider activity of 96 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SWCH in relation to earlier this year.

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Switch, Inc. (Nevada) engages in the provision of technology infrastructure. It specializes in the development of digital platforms for digital media companies, cloud and managed service providers, financial institutions, and telecommunications providers. Its products include Switch CONNECT and Switch SAFE. Switch was founded by Rob Roy in 2000 and is headquartered in Las Vegas, NV.