UBS analyst John Hodulik downgraded CyrusOne to Neutral from Buy and lowered his price target for the shares to $62 from $64. The analyst expects the company to benefit from long-term secular trends in the data center industry but has growing concerns that near-term hyperscale demand will remain "subdued" longer than expected. With lower visibility on a hyperscale leasing rebound in the second half of 2019, CyrusOne multiple expansion is less likely, Hodulik tells investors in a research note. As such, he sees a balanced risk/reward at current share levels.