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Fly News Breaks for November 1, 2019
CONE
Nov 1, 2019 | 07:21 EDT
JPMorgan analyst Richard Choe downgraded CyrusOne (CONE) to Neutral from Overweight with a $77 price target, up from $71. The company reported a "soft" Q3 with rental revenue slightly below expectations, partially offset by better interconnection growth, Choe tells investors in a research note. The analyst adds that while growth remains solid and signings were strong in Q3, he expects signings to "ramp back down." He also views CyrusOne's outlook for 2020 as "modest."
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