Wells Fargo Upgrades Digital Realty Trust (DLR) to Overweight

Wells Fargo analyst Nitin Kumar upgraded Digital Realty Trust (NYSE: DLR) from Equal Weight to Overweight with a price target of $155.00 (from $135.00).

The analyst comments "We believe DLR can accelerate leasing volumes in 2024 (we're modeling +$600MM). Across its top 10 markets, DLR has >300 MWs of sellable capacity where market vacancy rates are ~5% or lower (50% lower than historical avg) which could ultimately generate nearly $700MM of incremental rent. DLR's 96 MWs of NoVA capacity through 2025 is particularly valuable, with rental rates of $150-170/kW in a severely constrained market providing upside to near-term leasing."

For an analyst ratings summary and ratings history on Digital Realty Trust click here. For more ratings news on Digital Realty Trust click here.

Shares of Digital Realty Trust closed at $143.34 yesterday.

You May Also Be Interested In

• Jefferies Upgrades FuelCell Energy (FCEL) to Buy
• Argus Starts SpaceX (SPCX) at Hold
• Moderna (MRNA) PT Raised to $77 at Piper Sandler