Digital Realty price target raised to $220 from $195 at Wells Fargo

Wells Fargo raised the firm’s price target on Digital Realty (DLR) to $220 from $195 and keeps an Overweight rating on the shares. The firm is also raising estimates ahead of Q1, with colocation / enterprise demand ramping and pricing power a major tailwind. Valuation and outperformance year-to-date, however, raise the bar for future performance.