HSBC analyst Phani Kanumuri upgraded Digital Realty (DLR) to Buy from Hold with a price target of $193, up from $187. The firm expects the company to see “strong and sustainable” adjusted funds from operations growth. The recent share price decline offers an opportunity to “acquire an asset with strong near and medium-term growth prospects,” the analyst tells investors in a research note. HSBC says Digital Realty should grow its revenue and AFFO by10% and 9% through 2028, respectively, on a “robust” pricing environment in key metro areas and strong bookings.
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