GDS Holdings price target lowered to $10.40 from $12 at BofA

BofA analyst Daley Li lowered the firm’s price target on GDS Holdings to $10.40 from $12 and keeps a Buy rating on the shares. Q4 results were in-line with expectations and the revenue guidance mid-point beat consensus estimates by 5%, notes the analyst, who thinks the weak share price performance yesterday in New York trading could be due to profit-taking post the fund raising finalized for the international business. The firm has slightly cut its FY24-25 adjusted EBITDA forecasts by 1%-3% to factor in the updated growth outlook and margin drag from international business ramping up, the analyst tells investors.