Citi analyst Michael Rollins raised the firm’s price target on Digital Realty to $160 from $154 and keeps a Buy rating on the shares. The analyst also opened a “90-day positive catalyst watch” on the shares. The firm believes Digital Realty’s bookings and key performance indicators can benefit from a favorable demand backdrop for hyper-scale leasing, including the possibility for the company to lease its current inventory of up to 100 MW in the NOVA market at favorable rates. Citi says the company is in a better position for organic growth to flow through its reported financial metrics exiting 2024 and into 2025.
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