Goldman Sachs analyst Xuan Tan upgraded Keppel DC REIT (KPDCF) to Buy from Neutral with a price target of S$2.57, up from S$2.41. Keppel DC Reit corrected 8% on January 27 on concerns that the emergence of DeepSeek could result in lower AI-related capex and less demand for data centers, notes the analyst, who cites valuation post correction and confidence underpinned by near-term tightness of Singapore data center space for the firm’s upgrade.
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