RBC Capital Downgrades DuPont Fabros to Hold

By Jason Carr

In a report released today, Wes Golladay from RBC Capital downgraded DuPont Fabros (NYSE: DFT) to Hold, with a price target of $62. The company’s shares closed last Friday at $60.80, close to its 52-week high of $63.46.

According to TipRanks.com, Golladay is a 4-star analyst with an average return of 8.1% and a 69.2% success rate. Golladay covers the Financial sector, focusing on stocks such as Retail Opportunity Investments, General Growth Properties Inc, and Seritage Growth Properties.

Currently, the analyst consensus on DuPont Fabros is Moderate Buy and the average price target is $57.60, representing a -5.3% downside.

In a report issued on June 9, Jefferies also reiterated a Hold rating on the stock with a $54 price target.

Based on DuPont Fabros’ latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $139 million and quarterly net profit of $38.39 million. In comparison, last year the company earned revenue of $124 million and had a net profit of $31.06 million.

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DuPont Fabros Technology, Inc. operates as a real estate investment trust. It owns, develops, operates and manages carrier neutral and multi-tenant wholesale data centers. The company’s facilities are designed to offer efficient and safe computing environments. DuPont Fabros Technology was founded by Lammot J. du Pont and Hossein Fateh on March 2, 2007 and is headquartered in Washington, DC.