Guggenheim Believes CyrusOne (CONE) Won’t Stop Here


In a report released yesterday, Robert Gutman from Guggenheim reiterated a Buy rating on CyrusOne (NASDAQ: CONE), with a price target of $72. The company’s shares closed yesterday at $66.53, close to its 52-week high of $66.72.

According to TipRanks.com, Gutman is a 4-star analyst with an average return of 8.3% and a 71.7% success rate. Gutman covers the Financial sector, focusing on stocks such as American Tower Corp, QTS Realty Trust, and Coresite Realty.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for CyrusOne with a $72.44 average price target, representing an 8.9% upside. In a report issued on August 14, MUFG Securities Americas Inc also maintained a Buy rating on the stock with a $68 price target.

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Based on CyrusOne’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $106 million. In comparison, last year the company had a GAAP net loss of $1 million.

Based on the recent corporate insider activity of 38 insiders, corporate insider sentiment is negative on the stock.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

CyrusOne, Inc. engages in the ownership, operation, and development of enterprise-class, carrier-neutral, multi-tenant data center properties. It provides mission-critical data center facilities that protect and ensure the continued operation of information technology infrastructure for different customers.

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