Fly News Breaks for January 16, 2020
Jan 16, 2020 | 08:02 EDT
As previously reported, Jefferies analyst Jonathan Petersen upgraded Digital Realty (DLR) to Buy from Hold with a price target of $141, up from $132. Since the company's acquisition agreement with Interxion (INXN) was announced in late October, Digital Realty shares have underperformed data center peers amid an overhang due to some Interxion "shareholder agitation" for an increased bid. However, Petersen does not anticipate a competing bid and his analysis suggests any realistic increase still results in Digital Realty trading at a wide discount. Digital Realty's deal for Interxion provides the company with a much needed platform on Mainland Europe and "changes the game" there, contends Petersen.
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