GDS Holdings Ltd (NASDAQ: GDS) stock surged over 6.5% in pre-market trading on Tuesday, following a positive analyst report from JMP Securities. In a research note released earlier in the session, analyst Greg P. Miller reiterated a Buy rating on GDS shares and set a favorable price target, citing the firm's bullish outlook on the company.
The upbeat analyst coverage fueled investor optimism and increased buying interest in GDS, driving the stock's significant pre-market rally. Miller's report highlighted strong growth prospects and positive fundamentals for the company, boosting investor confidence and sentiment.
The bullish analyst outlook from a respected firm like JMP Securities was a key catalyst for the notable pre-market stock surge, as investors reacted positively to the favorable coverage and pricing target for GDS Holdings.
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