Why GDS Holdings Stock Zoomed 10% Higher on Monday
A significant price-target raise from an analyst led to significant gains for GDS Holdings' (NASDAQ: GDS) U.S. listed stock on Monday. The Chinese data center company saw its American depositary shares (ADS) rise by an even 10% on the day as a result. That percentage was nearly 10 times the gain of the S&P 500 index, which closed just short of 1% higher.
Well before market open that day, Jefferies prognosticator Edison Lee made quite the dramatic change to his fair value assessment of GDS. While maintaining a buy recommendation on the specialty tech stock, he cranked his price target well higher. It's now at $25.05 per ADS from the previous $16.69.
It was not immediately apparent why Lee changed his price target.
Source Fool.com
