BUZZ-DigitalOcean rises after Citigroup initiates coverage

** Shares of cloud computing platform DigitalOcean Holdings DOCN.N rise 8% to $41.80

** Brokerage Citigroup initiates coverage with "buy" rating and PT of $45

** DOCN has shown ability to not only maintain market share but also deliver sustainable growth as it carves out and focuses efforts on a largely underserviced segment of the market - Citigroup

** Citigroup believes DOCN's new leadership comes "with much-needed technical horsepower and experience" to identify customer challenges and satisfy necessary product differentiation

** Seven of 14 brokerages rate the stock "buy" or higher, six rate "hold" and one rates "sell"; their median PT is $40, according to data compiled by LSEG

** DOCN had fallen 7% in 2024