BofA raised the firm’s price target on Digital Realty (DLR) to $150 from $140 and keeps a Buy rating on the shares after the company announced a joint-venture with Blackstone (BX) to develop 10 hyperscale data centers across four global campuses for a total estimated development cost of $7B. The firm views this deal as “meaningfully helpful” to Digital Realty’s long-term deleveraging and external funding plan, the analyst tells investors.
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