DigitalBridge Group, Inc. (DBRG) shares surged 5.15% in intraday trading on Friday, extending its recent strong performance amid growing analyst optimism. The real estate investment trust has been gaining momentum, with its stock price climbing 7.9% over the past four weeks.
The latest rally comes as Wall Street analysts project significant upside potential for DBRG. According to a recent report, the mean price target for DigitalBridge stands at $16.65, suggesting a remarkable 90.5% upside from its current trading levels. This bullish outlook is supported by strong agreement among analysts regarding the company's ability to outperform previous earnings expectations.
Adding to the positive sentiment, DigitalBridge currently holds a Zacks Rank #2 (Buy), placing it in the top 20% of stocks ranked by the firm. This ranking is particularly noteworthy given the recent upward revision in earnings estimates. Over the last 30 days, the Zacks Consensus Estimate for the current year has increased by 23.5%, with one estimate moving higher and no negative revisions.
Investors appear to be responding favorably to these positive indicators, driving the stock's intraday surge. As DigitalBridge continues to attract attention from both analysts and investors, market participants will be closely watching to see if the company can deliver on these optimistic projections in the coming months.
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