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GDS Holdings upgraded to Buy from Hold at Jefferies

GDS Holdings upgraded to Buy from Hold at Jefferies

Jefferies analyst Edison Lee upgraded GDS Holdings (GDS) to Buy from Hold with a $45 price target The stock has corrected about 30% since February 24th due to worries about an equity raise after its peer’s recent issue, but these concerns are likely overdone since the company’s China strategy remains de-leveraging, the analyst tells investors in a research note. The firm adds that it does not anticipate a large capex hike with the company’s upcoming Q4 results this week.

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