Digital Realty price target raised to $207 from $177 at RBC Capital

RBC Capital analyst Jonathan Atkin raised the firm’s price target on Digital Realty (DLR) to $207 from $177 and keeps an Outperform rating on the shares. Digital Realty’s key financials were higher than consensus expectations, with new leasing a record $521M and backlog totaling a record $859M, the analyst tells investors in a research note. The record backlog and favorable escalators position the company well for accelerating top-line and bottom-line growth for FY25 and FY26, the firm says.