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GDS Holdings price target lowered to $15 from $22 at RBC Capital
The Fly

GDS Holdings price target lowered to $15 from $22 at RBC Capital

RBC Capital analyst Jonathan Atkin lowered the firm’s price target on GDS Holdings to $15 from $22 and keeps a Sector Perform rating on the shares. The company reported "solid" Q3 results and affirmed guidance, but his reduced price target reflects a slower recovery ramp from macro-related pressures and more conservative valuation parameters, the analyst tells investors in a research note. While GDS has potential to outperform its peers in the long run given its positioning in an underpenetrated, growing market, his Sector Perform rating is also due to the company facing heightened macroeconomic risk and Covid and supply-chain factors that could pressure customer demand, Atkin adds.

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