Oppenheimer Raises DFT Price Target by $5 (DFT)

DuPont Fabros Technology

had a recent equity offering and debt refinancing, and its FFO is poised to grow by double digits over the next few years. DuPont Fabros Technology is a major owner and operator of data centers. Analysts Srinivas Anantha and John Merrick reiterated their Outperform rating for DFT. They raised their price target to $31, up from $26. DFT is currently trading at $25.68. They had this to say: "We are updating estimates to account for favorable market trends and recent news (financings/dividend/updated guidance)...Given continued growth in market demand, coupled with ongoing demand/supply imbalance, we expect leasing trends to remain strong. Our new $31 PT (was $26) is based on 18x '11E FFO/share."