Data-center operator GDS rises after RBC raises rating to 'outperform'

GDS Holdings

08/07/2024 15:24

** U.S.-listed shares  GDS.O  of China-based GDS Holdings
rise 2.8% to $11.14
    ** RBC upgrades the shares to "outperform" from "sector
perform" and lifts PT to $14 from $13, implying a 29% upside to
stock's last close
    ** Brokerage sees revenue, earnings upside in next two years
at GDS International (GDSI), the holding company for
international operations
    ** GDSI's series A private preferred equity raise was a
positive valuation benchmark, future rounds could provide
further valuation support - brokerage
    ** 13 brokerages rate the stock "buy" or higher and 4
"hold"; median PT $12.55 - LSEG
    ** GDS' U.S.-listed shares up 22% YTD

 (Reporting by Aatreyee Dasgupta)
 ((Aatreyee.Dasgupta@thomsonreuters.com))