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Daiwa: Maintains GDS-SW "Buy" rating and raises Target Price to 49 HKD.
Daiwa released a Research Report stating that it maintains a "Buy" rating on GDS-SW (09698), with the Target Price raised from 46 HKD to 49 HKD. The report mentions that in the fourth quarter of fiscal year 2024 for GDS, the focus is on capital expenditure guidance and new contract pricing, as the acquisition of new Orders has raised questions in the market about GDS's funding strategy. Daiwa believes that GDS has sufficient channels to fully fund capital expenditures of up to 9 billion RMB this year without relying on equity financing. If new Orders exceed expectations, it is believed that GDS may further issue convertible Bonds, although this would imply future.
Daiwa: Maintains the "Buy" rating for GDS-SW (09698) and raises the Target Price to 49 Hong Kong dollars.
Daiwa believes that GDS Holdings has sufficient channels to fully fund capital expenditures of up to 9 billion yuan this year, without relying on equity financing.
Earnings Preview: GDS Holdings to Report Financial Results Pre-market on March 19
Earnings Preview: GDS-SW to Report Financial Results on March 19
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