BUZZ-Digital Realty rises; Deutsche Bank turns bullish

** Shares of data center landlord Digital Realty DLR.N up 2.3% at $177.63 early Weds amid broader rally in equities, and Deutsche Bank upgrade to 'buy' from 'hold'

** Wall Street's main indexes rallying after data allays inflation fears, and batch of big US banks post strong earnings .N

** S&P 500 real estate sector .SPLRCR, seen as a bond-proxy, up 1.6% on the session as yields fall US/

** Deutsche Bank boosts PT on the real estate investment trust (REIT) by $9 to $194, implying ~12% upside to last close of DLR's shares

** In preview note on communications infrastructure space, brokerage says the stock remains arguably the preferred/most widely held name among the group

** "Momentum remains at DLR's back, with robust demand and space/power constraints that are unlikely to moderate any time soon creating a highly favorable demand and pricing backdrop," Deutsche Bank writes

** Brokerage says $1-bln-plus in LTM (last 12 months) bookings and nearly $900 mln (record) backlog help de-risk future growth, adding it anticipates DLR's mid-single-digit core FFO/sh growth in 2025E could accelerate in 2026E and beyond

** 17 of 26 analysts rate DLR "strong buy" or "buy", 8 rate "hold". while 1 recommends "sell" with median PT of $201, per LSEG data

** With move on Weds, stock has gained nearly 30% over the past year, aided by strong AI-related leasing

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))