UPDATE: Jefferies Initiates CyrusOne on New Presence, Business Strategy

In a report published on Tuesday, Jefferies analyst Omotayo Okusanya initiated coverage on CyrusOne CONE with a Buy rating and a $25 price target. In the report, Jefferies stated, "We believe CONE's focus on being the low cost data center provider of choice for Fortune 1000 companies (especially in the Oil and Gas industry) is a key differentiation versus its peer group. CONE's stock also offers compelling value given our expectation of ~29% annual FFO/sh growth from 2013-2015 via portfolio lease-up and potential development projects." CyrusOne closed on Monday at $20.89.