Stifel raised the firm’s price target on Digital Realty (DLR) to $175 from $165 and keeps a Buy rating on the shares. Heading into Q2 earnings from data center and hosting REITs, the firm does not expect to hear of any major changes to the operating environment and believes many of the positive trends have sustained, the analyst tells investors in a preview. While the data center REITs have underperformed the broader markets – largely driven by macroeconomic conditions, interest rates and the short report on Equinix (EQIX) – the underlying strength around AI and more broadly cloud and digital transformation “remain powerful tailwinds,” the analyst added.
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