UPDATE: Macquarie Upgrades DuPont Fabros Technology (DFT) to Outperform

(Updated - November 20, 2014 8:23 AM EST)

Macquarie upgraded DuPont Fabros Technology (NYSE: DFT) from Neutral to Outperform with a price target of $36.

Analyst Kevin Smithen said, "We have to admit that we were too bearish on the wholesale data center space earlier this year as cyclical economic tailwinds have more than offset L-T concerns over private-to-public cloud cannibalization and customer insourcing. While we still see these as very real L-T risks, we believe the industry, led by new mgmt at DLR, has become more rational in capacity additions. Meanwhile, demand has picked up and cash renewal rates, while not rising, are stabilizing. DFT shares have lagged DLR shares YTD, returning 30% vs. 47% and short interest remains at 15.5% of DFT's float vs. 10.3% at DLR. With the Yahoo sublease announcement, our bullish tactical call into Q3 becomes an Outperform rating for 2015 ahead of formal FY15 guidance."

For an analyst ratings summary and ratings history on DuPont Fabros Technology click here. For more ratings news on DuPont Fabros Technology click here.

Shares of DuPont Fabros Technology closed at $30.48 yesterday.

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