GDS Holdings downgraded to Sector Perform from Outperform at RBC Capital

RBC Capital downgraded GDS Holdings (GDS) to Sector Perform from Outperform with a price target of $37, up from $26. The firm cites valuation for the downgrade following the stock’s run-up over the past two weeks. Despite its higher price target of $37, and favorable view of GDS’s operational prospects, RBC views the shares as fairly valued at current levels.