JPMorgan analyst Richard Choe upgraded Digital Realty Trust to Overweight from Neutral with a price target of $175, up from $150. The analyst sees the company as a substantial beneficiary of cloud and artificial intelligence demand for data center capacity. Digital Realty has available and future capacity in Northern Virginia and major markets around the world, the analyst tells investors in a research note. The firm says the company had its highest bookings quarter in Q1 along with strong renewal volume and pricing, especially in the over 1 MW category.
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