BTCC
/
BTCC Square
/
Global Cryptocurrency
/
Vnet Stock Surges 13% on Price Target Raise Amid Strong Earnings
Vnet Stock Surges 13% on Price Target Raise Amid Strong Earnings
16
3
BTCCSquare news:
Chinese data center operator Vnet saw its American Depositary Shares leap nearly 14% Friday after Edison Lee, a prominent analyst, raised his price target to $25.13 from $24.23. The bullish MOVE came as Vnet outperformed consensus estimates for Q2 revenue and EBITDA growth, with net revenue climbing 22% year-over-year to 2.43 billion yuan ($339 million).
Wholesale segment revenue skyrocketed 81% despite no major new contracts—a trend Lee expects to reverse in coming quarters. The company's positioning in China's booming data center market continues to attract institutional confidence, with the analyst maintaining Vnet as a top pick.
By:
