VNET Group Inc. (NASDAQ:VNET) is one of the 10 best mid-cap stocks that could double your money.
Back on May 27, while maintaining an Overweight rating and a $16 price target for the stock, Tom Tang from Morgan Stanley picked VNET Group Inc. (NASDAQ:VNET) as his top choice. The ******* yst claims that since a CATL affiliate was introduced, VNET's issues related to the shareholders have been mostly fixed. Additionally, he mentioned that 500 megawatt MOUs have led to an increase in forward visibility. According to Tang, based on premium resources, VNET currently carries a first-mover advantage.
Copyright: ralwel / 123RF Stock Photo
Later on June 9, Chinese cloud service providers GDS Holdings Limited (NASDAQ:GDS) and VNET Group Inc. (NASDAQ:VNET) saw increases in their US depositary receipts of approximately 7% and 9%, respectively, as reported by Bloomberg. The report highlighted that China is getting ready to invest $295 billion in data center development nationwide.
A national network of interconnected data centers is now being planned by government agencies, such as the National Development and Reform Commission. According to the sources, Chinese vendors would provide about 80% of the technology, while state-owned companies like China Mobile and China Telecom are anticipated to run the majority of the infrastructure.
Back on May 27, while maintaining an Overweight rating and a $16 price target for the stock, Tom Tang from Morgan Stanley picked VNET Group Inc. (NASDAQ:VNET) as his top choice. The ******* yst claims that since a CATL affiliate was introduced, VNET's issues related to the shareholders have been mostly fixed. Additionally, he mentioned that 500 megawatt MOUs have led to an increase in forward visibility. According to Tang, based on premium resources, VNET currently carries a first-mover advantage.
Copyright: ralwel / 123RF Stock Photo
Later on June 9, Chinese cloud service providers GDS Holdings Limited (NASDAQ:GDS) and VNET Group Inc. (NASDAQ:VNET) saw increases in their US depositary receipts of approximately 7% and 9%, respectively, as reported by Bloomberg. The report highlighted that China is getting ready to invest $295 billion in data center development nationwide.
A national network of interconnected data centers is now being planned by government agencies, such as the National Development and Reform Commission. According to the sources, Chinese vendors would provide about 80% of the technology, while state-owned companies like China Mobile and China Telecom are anticipated to run the majority of the infrastructure.
3 months ago
