Stifel Nicolaus Believes CyrusOne (NASDAQ: CONE) Still Has Room to Grow

By Carrie Williams

In a report released yesterday, Keith Gay from Stifel Nicolaus reiterated a Buy rating on CyrusOne (NASDAQ: CONE), with a price target of $66. The company’s shares opened today at $61.60, close to its 52-week high of $65.73.

According to TipRanks.com, Gay is a 3-star analyst with an average return of 5.0% and a 60.0% success rate. Gay covers the Services sector, focusing on stocks such as Dave & Busters Entertainment, Live Nation Entertainment, and Triple-S Management Corp.

Currently, the analyst consensus on CyrusOne is Strong Buy and the average price target is $68.20, representing a 10.7% upside.

In a report issued on September 5, RBC Capital also reiterated a Buy rating on the stock with a $65 price target.

Based on CyrusOne’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $167 million and GAAP net loss of $1 million. In comparison, last year the company earned revenue of $130 million and had a net profit of $8.9 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.