GDS Holdings price target raised to $17.75 from $17.22 at Jefferies

Jefferies raised the firm’s price target on GDS Holdings to $17.75 from $17.22 and keeps a Buy rating on the shares post the Q3 report. The company’s financing deals are underway but taking longer than expected, the analyst tells investors in a research note. The firm says the stake sale in GDS’s international business is a more important event for crystalizing its asset value but will likely be a 2024 event. As such, while GDS’s current valuation is not expensive, it may lack positive catalysts until the market sees the valuation of such a transaction, says Jefferies.