Benchmark Raises FY2012 Estimates For Terremark

Terremark Worldwide, Inc. (NASDAQ: TMRK) is having its FY2012 estimates for revenue and EBITDA raised by Benchmark to reflect increasing comfort with co-location demands, and has increased the price target to $11 (from $9).

Benchmark's FY2011 estimates remain unchanged at $100M (up 27% y/y) and for FY2012 the EBITDA estimate rises $8M to $134M, slightly below Terremark's “proxy” of $136M.

Terremark's stock is up 29% since Benchmark's 8/16 upgrade to Buy, and is believed that revenue visibility is high, which may make Terremark relatively attractive in this slow-growth economy.

Benchmark reiterates its Buy/Overweight rating for Terremark Worldwide, Inc., which closed yesterday at $9.79.