Jefferies analyst Jonathan Petersen raised the firm’s price target on Digital Realty (DLR) to $205 from $190 and keeps a Buy rating on the shares after the company “exceeded all leasing expectations” by booking $521M in new annualized rental revenue, which the firm notes is more than twice the previous record high of $252M in Q1 of 2024. Rent renewals also posted a “record quarter” with $258M in annual revenue and 15.2% cash spread, adds the analyst, who says the “record-setting quarter” should drive material stock outperformance.
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