Citi analyst Louis Tsang resumed coverage of VNET Group with a Buy rating and $4 price target. The stock’s current valuation “looks undemanding” with “significant wholesale order and robust delivery ahead” thanks to a domestic recovery, the analyst tells investors in a research note. The firm says VNET has won new orders of 235MW in Ulanqab, Inner Mongolia, including a 200MW order from a single internet customer and remainder from IT services companies.
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