Bank of America Securities analyst Alexander Waters reiterated a Buy rating on Digital Realty (DLR – Research Report) today and set a price target of $205.00.
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Alexander Waters has given his Buy rating due to a combination of factors including Digital Realty’s strong performance and promising future outlook. The company has shown resilience despite concerns about hyperscale leasing softness, with AI demand driving more than two-thirds of signings in the recent quarter. Additionally, the positive re-leasing spreads and strong demand trends suggest continued growth.
Digital Realty’s backlog has reached a record level, indicating a healthy pipeline of future projects. The company’s first-quarter results exceeded expectations on several financial metrics, and its revenue guidance has been increased. Furthermore, Digital Realty’s new US Hyperscale Data Center fund has attracted significant commitments, highlighting investor confidence. These factors, along with its exposure to global pricing power and digital transformation trends, justify a premium valuation compared to its peers.
In another report released today, BMO Capital also reiterated a Buy rating on the stock with a $180.00 price target.
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