GDS Holdings price target raised to $51.20 from $25.10 at Citi

Citi analyst Louis Tsang raised the firm’s price target on GDS Holdings (GDS) to $51.20 from $25.10 and keeps a Buy rating on the shares. The firm’s channel checks indicate rising artificial intelligence data center-related spending from China cloud service providers. Citi believes the AI capex up-cycle is in the early stages. GDS will enjoy increasing overseas data center deployment from “domestic giants,” the analyst tells investors in a research note. Meanwhile, the firm sees “encouraging development” of DeepSeek driving AI inference demand from small to medium-sized enterprises.