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CyrusOne (CONE) Stock Higher, Upgraded at Barclays

NEW YORK (TheStreet) -- Shares of CyrusOne (CONE) were increasing in early-morning trading on Thursday as Barclays boosted its rating on the stock to "overweight" from "equal weight."

The firm also upped its price target to $57 from $50 on shares of the Carrollton, TX-based real estate investment trust that owns data center properties.

The upgrade is based on the REIT's attractive relative risk and reward.

Barclays said it "readily admits" that its prior rating on CyrusOne did not anticipate the level of multiple expansion that has...