Potential Growth In Data Center Business Energizing DFT

Analysts at Citigroup reiterate their "hold" rating on DuPont Fabros Technology Inc

. The target price for DFT has been raised from $25 to $27. According to Citigroup, “Data Center developer Dupont Fabros (

) continues to be energized and enthused with the potential growth in the data center business and its prospects to deliver significant new product to meet the demand. DFT has made significant strides on the balance sheet pushing out maturities and raising significant equity to re-start the development pipeline.” “DFT delivered strong 2Q results ahead of both our estimate and mgmt’s driven by an earlier than expected recognition of lease commencements. Of the 5 leases that commenced in 2Q, 3 were scheduled to commence in future periods,” the analysts add.