UPDATE: Jefferies Reiterates Buy Rating, Lowers PT on Digital Realty Trust Following 2Q13 Post Review

In a report published Monday, Jefferies analyst Omotayo Okusanya reiterated a Buy rating on

, but lowered the price target from $78.00 to $72.00. In the report, Jefferies noted, “Post 2Q13 results, DLR stock sold off 7.5% despite what we believe to be solid operating results for the quarter. Investors were spooked by an accounting change and reduction to guidance driven largely by timing of lease commencements. We reduce our PT to $72 on more conservative estimates but maintain our Buy rating on DLR shares.” Digital Realty Trust closed on Friday at $58.28.