BofA Securities Reiterates Buy Rating on VNET Group Inc (VNET)

BofA Securities analyst Daley Li reiterated a Buy rating and $11.30 price target on VNET Group Inc (NASDAQ: VNET).

The analyst comments "We attended VNET Investor Day in Ulanqab data center hub on 24 Jun and had meetings with management. Key takeaways: 1) expecting sustainable strong data center (DC) demand driven by AI, 2) industry competition is expected to ease due to higher industry entry barrier (financial capability/regulation), 3) VNET introduced strategic roadmap for the next decade to add 10GW capacity by 2036E, and 4) the combination of DC and green power acts potential moat in future. Overall, we turn more positive on VNET’s growth outlook and competitive advantage in the era of AI. Maintain Buy given growth acceleration on wholesale business expansion driven by AI."

For an analyst ratings summary and ratings history on VNET Group Inc click here. For more ratings news on VNET Group Inc click here.

Shares of VNET Group Inc closed at $5.45 yesterday.

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