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Fly News Breaks for October 4, 2019
CONE
Oct 4, 2019 | 07:56 EDT
As reported previously, Cowen analyst Colby Synesael downgraded CyrusOne to Market Perform from Outperform. The analyst said the risk/reward at current levels is less compelling although he still expects the company to be acquired. He also said there is growing concern a deal may not get done, if a deal does get done the transaction would be priced at less than $85 per shares, and if a deal does not get done there is considerable downside. Synesael maintained his $77 price target on CyrusOne shares.
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