Fly News Breaks for February 20, 2020
Feb 20, 2020 | 08:29 EDT
Even after a "huge positive" funds from operations benefit from debt refinancing and a reduction in force, CyrusOne's 2020 guidance was a disappointment with the midpoints for revenue, EBITDA, and normalized FFO ~4% below current consensus, Citi analyst Michael Rollins tells investors in a research note. The analyst expects the shares to trade lower near-term and keeps a Sell rating on the name with a $60 price target. He recognizes, however, a risk to his fundamental thesis is that CyrusOne could consider a strategic review and/or sale of the company based on recent press reports.
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