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Fly News Breaks for February 12, 2020
Feb 12, 2020 | 13:57 EDT
BofA analyst Michael Funk said he believes "there is a degree of logic" to the report that CyrusOne is considering a sale again based on private capital earmarked for infrastructure, recent transactions such as Zayo, and CyrusOne's attractive relative valuation, assets and management. While strategic interest is also possible, he views it as less likely, Funk tells investors. Applying "basic leverage buyout math" results in a hypothetical value of $85 per CyrusOne share if it is assumed a mid-teens internal rate of return is required, said Funk, who maintains a Buy rating and $75 price target on the stock.
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