- Keefe, Bruyette & Woods analyst Jade J. Rahmani upgraded DigitalBridge Group Inc (NYSE:DBRG) to Outperform from Market Perform with an increased price target of $17.5 from $12.5.
- The rating upgrade reflects the potential for a sharp rise in fundraising on recent developments that point to increasing demand for digital infrastructure.
- Although the analyst sees a cyclical slowdown in the technology sector and recession woes as headwinds, the analyst is bullish on DBRG’s strong digital infrastructure growth potential, given the acceleration in artificial intelligence (AI) adoption.
- Rahmani also believes DBRG’s strong series of acquisitions and the final exit of legacy investments positions it well for profitability growth.
- Rahmani projects fee earning equity under management (FEEUM) growth of 22% Y/Y in 2023 (ex. AMP) and 24% in 2024.
- The analyst expects EPS of $0.29 vs. consensus of $(1.36) in 2023, $0.70 vs. consensus of $(0.54) in 2024, and $0.89 in 2025.
- Also Read: DigitalBridge Weighs Minority Stake Sale In Vantage Data Centers: Report
- Price Action: DBRG shares are trading higher by 10% at $14.12 on the last check Monday.
‘Janet Yellen Sees Path To Cool Inflation With Healthy Job Market; U.S. Economy Proves More Resilient Than Thought, Secretary Says; Bidenomics Prioritizes Workforce, Productivity Investments’ – Bloomberg News
https://www.bloomberg.com/news/articles/2023-06-30/yellen-sees-path-to-cool-inflation-with-healthy-job-market?sref=TBDibEcD&leadSource=uverify%20wall
Treasury Secretary Janet Yellen reiterated her optimism
