BofA raised the firm’s price target on VNET Group (VNET) to $17.30 from $14.50 and keeps a Buy rating on the shares. Management has guided to “a much higher” wholesale capacity delivery target of 400-450MW in FY25, compared to 153MW actual delivery in FY24, notes the analyst, who is turning more positive on the growth outlook, underpinned by strong wholesale internet data center demand driven by AI and a rapid client move-in pace.
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