- Credit Suisse analyst Sami Badri reiterated a Neutral rating on the shares of Digital Realty Trust Inc (NYE: DLR) and lowered the price target to $98 from $146.
- The analyst updated the model to reflect FX and rising interest rates.
- The analyst reduced 2022 estimates primarily on FX movements and an increase to DLR’s interest expense for the year.
- He lowered the price target on decreased AFFOS (Adjusted Funds From Operations) in 2023 and a lower AFFOS valuation multiple.
- Badri thinks facility space development time has been a challenge and has already elongated for the company. This challenge is only worsened by market-specific constraints, such as power supply in Northern Virginia.
- Investors will be watching Digital Realty’s renewal metrics and new leasing rates as a key indicator of pricing power, which Badri believes will be mostly healthy.
- While the analyst expects demand to moderate from all-time highs in 1H FY22, the channel checks indicate continued robust activity from hyperscalers.
- The analyst remains reserved on supply chain, weighing inflation pressures and fundamentals.
- Also Read: REITS Slightly Under Performing Year-To-Date Compared To S&P 500
- Price Action: DLR shares are trading lower by 4.62% at $94.43 on the last check Thursday.
‘Netflix Kills Off Cheapest No-Ads Plan In U.S., U.K. As It Looks To Shift Customers To Ad-Supported Tier’ – Variety
https://variety.com/2023/digital/news/netflix-ends-basic-plan-us-uk-ad-supported-tier-1235673948/
Netflix is no longer offering its cheapest streaming plan without ads in the U.S. and the U.K., with the company
