Deutsche Bank initiates coverage of Digital Realty and Equinix with 'buy'

Brokerage Deutsche Bank initiates coverage of Digital Realty DLR.N with 'buy' and a PT of $180; also of Equinix EQIX.O with 'buy' and a $915 PT

Brokerage remains bullish on both DLR and EQIX benefiting from the continued digital economy expansion, and AI-driven demand for digital infrastructure

Says DLR is its top pick, supported by strong AI tailwinds, with upside from lease renewals and solid capacity pipeline, which should lead to sustainable double-digit returns

Deutsche Bank says EQIX is a strong "value" play, pairing positive core fundamentals with an "attractive" valuation and a favorable risk-reward heading into 2026

Once AI adoption grows and reaches the inference stage, which we expect in 2027 and beyond, we expect a more significant uptick in demand for retail colocation facilities - Deutsche Bank

DLR was down 12.8% last year, while EQIX was down 18.7%