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Fly News Breaks for February 14, 2018
CONE
Feb 14, 2018 | 06:27 EDT
Citi analyst Michael Rollins remains concerned that CyrusOne's strategy of pursuing hyper-scale cloud customers through development and acquisitions will come at the cost of return on invested capital, without creating measurable differentiation for its portfolio or financial returns over time. The analyst believes negative releasing spreads and below peer average return on invested capital can support further multiple contraction. Rollins keeps a Sell rating on CyrusOne with a $48 price target. He remains a seller at current share levels.
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