UPDATE: Citi Resumes CyrusOne (CONE) at Neutral

March 22, 2022 6:30 AM EDT
Get Alerts CONE Hot Sheet
Price: $90.36 --0%

Rating Summary:
    7 Buy, 21 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 13 | Down: 24 | New: 8
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(Updated - March 22, 2022 6:32 AM EDT)

Citi analyst Michael Rollings resumes coverage on CyrusOne (NASDAQ: CONE) with a Neutral rating and a price target of $90.50.

The analyst comments "We are resuming coverage on CONE with a revised target of $90.50 to reflect the announced sale price for the pending acquisition by KKR and Global Infrastructure Partners per the announcement on 11/15/21. We expect the deal to close in the 2Q22 per recent management disclosures. We have set the 1Q22 dividend at $0.52, which will only be paid if the acquisition does not close by the ex-dividend date of March 25, 2022 per the press release. We maintain our Neutral rating based on the limited upside potential to the target price. We expect the pending acquisition by private equity to be completed under the current proposed terms. We have updated our model to reflect the completed divestiture of data center assets in Houston."

For an analyst ratings summary and ratings history on CyrusOne click here. For more ratings news on CyrusOne click here.

Shares of CyrusOne closed at $90.30 yesterday.

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