Bernstein analyst Madison Rezaei last night initiated coverage of Digital Realty with an Outperform rating and $218 price target. The firm models high-single-digit hyperscaler revenue through 2030, which it believes provides a "nice floor for the stock." What gets less investor attention is Digital Realty's enterprise trajectory, the analyst tells investors in a research note. Bernstein says the company's interconnection density and global footprint should enable outsized share gains in a growing market. Digital Realty is the firm's top pick in communications infrastructure.
