BMO Capital analyst Ari Klein lowered his price target on CyrusOne to $60, citing its disappointing 2019 outlook. The analyst notes that the size of the cloud opportunity justifies the management's decision to increase investment spending, but also questions the "level of aggressiveness" in the cost at about 2-times expected 2019 EBITDA. Klein is keeping his Outperform rating on CyrusOne however, stating that the guidance may have a level of conservatism in hyperscale leasing activity and adding that he is prepared to be patient based on the stock's current risk-reward.