Wells Fargo analyst Eric Luebchow keeps an Equal Weight rating and $115 price target on Digital Realty. While the firm is constructive on the company’s ability to transition from a largely external development story to an internal one over the next 3 years as higher market rents flow through its portfolio, the REIT continues to face risks into 2023, including higher interest rates, significant financing needs, uncertainty on development in Northern Virginia and slowing lease volumes that temper Wells Fargo’s near-term expectations, the analyst tells investors in a research note.
Published first on TheFly
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