UPDATE: Jefferies Raises Price Target on Digital Realty Trust to $71

According to Jefferies, Digital Realty Trust

price target is raised to $71. Jefferies said that while U.S domestic markets remain a driver of solid internal and external growth, DLR continues to add to its growth arsenal via expansion into attractive international data center markets. “Our $71 PT is derived via our dividend discount model (

). Key risks include: 1) deterioration in the U.S. economy, which could lead to a reduction in IT spending; 2) slower than expected lease-up of development projects; and 3) loss of access to attractively priced capital.” Digital Realty Trust closed yesterday at $63.85.