 RBC Capital increased CyrusOnes price target to 92 9.8 upside potential from 77 and reiterated a Buy rating citing the companys valuation parameters and growth prospects.RBC Capital analyst Jonathan Atkin wrote in a note to investors on Monday that CyrusOne CONE reported lower-than-expected churn rates but had solid leasing during 2Q. Atkin explained that his new price target on the stock replicates the roll-forward impact on his DCF discounted cash flow model and less conservative valuation factors. The analyst pointed out that the company can attract demand from large hyperscale users which would help it generate above-average growth in comparison with other datacenter REIT peers.On July 30, the real estate investment trust reported that 2Q revenues grew 1.9 to 256.4 million year-on-year, surpassing analysts expectations of 253 million. The companys funds from operations FFO increased by 14.4 to 1.03 per share year-over-year and beat Street estimates of 0.93.We had another very strong leasing quarter with broad demand across our markets in the US and Europe, and the nearly 100 million revenue backlog positions us well for growth in 2021 and beyond, CyrusOnes CEO Bruce Duncan said.Currently, the Street has a cautiously optimistic outlook on the stock. The Moderate Buy analyst consensus is based on 9 Buys and 6 Holds. The average price target of 85.92 implies upside potential of about 2.5. See CONE stock analysis on TipRanks.Related News: Wedbush Sticks To Hold On Nordstrom Ahead Of 2Q Results Barclays Lifts NetEases PT On Gaming Sales Growth Bet Truist Raises Yelps PT On Balance Sheet Strength More recent articles from Smarter Analyst: Goldman Adds JD.com To Conviction Buy List, Lifts PT After 2Q Earnings Tiziana Spikes 25 In Pre-Market On Patent Win For Foralumab ICE To Raise 6.5B In Bond Sale For Ellie Mae; Oppenheimer Cuts Stock To Hold Wedbush Turns Bullish On Best Buy, Lifts PT 