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Fly News Breaks for January 13, 2020
CONE
Jan 13, 2020 | 21:54 EDT
BMO Capital analyst Ari Klein downgraded CyrusOne to Market Perform from Outperform with a price target of $67, down from $73. This year was expected to mark the return of significant U.S. hyperscale leasing, but CyrusOne's cost cuts reflect continued uncertainty around timing and portend downside to the 2020 outlook, Klein tells investors in a research note. The analyst sees few near-term catalysts for the shares and recommends waiting for better visibility around a leasing recovery to get more constructive.
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