2236 GMT - DigiCo Infrastructure REIT's gearing is very high, and its valuation isn't compelling enough given the risks. That's the view of Jefferies, which starts coverage of DigiCo at hold with a A$3.70/share price target. DigiCo's U.S. assets are fully leased to blue-chip customers, providing steady income with rent escalations to fund development projects elsewhere, Jefferies says. "However, DigiCo may face some hurdles in expanding its Sydney facility (SYD1), where leasing activities could be slower than expected," analyst Roger Samuel says. DigiCo ended last week at A$3.42. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
June 29, 2025 18:36 ET (22:36 GMT)
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