Jefferies analyst Omotayo Okusanya reiterated a Buy rating on CyrusOne (NASDAQ: CONE) yesterday and set a price target of $69. The company’s shares closed yesterday at $62.10, close to its 52-week high of $65.73.
According to TipRanks.com, Okusanya is a 4-star analyst with an average return of 7.5% and a 60.8% success rate. Okusanya covers the Financial sector, focusing on stocks such as Easterly Government Properties, DCT Industrial Trust Inc, and Office Properties Trust.
Currently, the analyst consensus on CyrusOne is a Strong Buy with an average price target of $69.50, representing an 11.9% upside. In a report released yesterday, Stifel Nicolaus also maintained a Buy rating on the stock with a $70 price target.
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Based on CyrusOne’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $43.5 million. In comparison, last year the company had a GAAP net loss of $1 million.
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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.
