DigitalBridge upgraded to Overweight from Neutral at JPMorgan

JPMorgan upgraded DigitalBridge to Overweight from Neutral with a price target of $25, up from $19. The company is largely through its transformation of the business to a focus on Digital Investment Management and simplifying operating results, the analyst tells investors in a research note. The firm says the “transformed” DigitalBridge is a direct way for investors to benefit from digital infrastructure investment management on a global basis without being fully invested to one vertical or region. It believes the company will be able to raise capital in a more stable financial environment as rates level off and digital infrastructure gains broader appeal to pension, sovereign wealth and other infrastructure funds.