DigitalBridge price target raised to $19 from $18 at Deutsche Bank

Deutsche Bank analyst Matthew Niknam raised the firm’s price target on DigitalBridge to $19 from $18 and keeps a Buy rating on the shares. The analyst believes DigitalBridge is an “underappreciated beneficiary” of artificial intelligence tailwinds, “with potential catalysts on the horizon” as the company is set to report Q2 results on August 4. Despite a 50% move higher year-to-date, DigitalBridge shares “remain one of the most under-appreciated stories among our coverage, with meaningful upside potential over time,” the analyst tells investors in a research note. As the company’s evolution towards an alternative asset manager dedicated to digital infrastructure crystallizes, the stock may be able to attract additional investor interest and potentially re-rate further, to a multiple more reflective of its above average growth, says Deutsche Bank.