SunTrust analyst Greg Miller initated GDS Holdings with a Buy rating and a price target of $46 as part of his broader research coverage launch into Data Centers. The analyst contends that the company is a "pure-play Chinese data center company" with "appropriate risk tolerance exposure to the fastest-growing data center market in the world". Miller notes that GDS is a market share leader in China, "quickly becoming the provider of choice to China's major cloud and internet companies". The analyst believes that the company will outgrow its peers and produce "strong" operating leverage and free cash flows.