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Yes, CyrusOne appears to be fairly expensive to me. However, it is both a spinoff and a REIT conversion, types of stocks that have significantly outperformed the S&P lately and historically. While the Grahm investor in me wants to value future growth at zero, there's no denying that the data center sector has some major tailwinds behind it right now and likely for some time to come.The special situations combined with a hot sector make this one a CAPS buy. As I mentioned, I think that it's a little rich for real money though. time will tell.Deej