Broker: DBS Group Research
Date of Report: 09 June 2026
Excerpt from DBS Group Research report.
Report Summary
- Stock Focus: VNET Group Inc (Ticker: VNET US)
- Actionable Call: BUY
- Target Price: USD 16.70
- Key Highlights:
- VNET is trading at an attractive valuation (9.5x forward EV/EBITDA) and is expected to deliver a strong 24% EBITDA CAGR from FY25-28.
- Recent large hyperscaler order secured (510MW), with potential for further major orders supported by robust resources and ongoing bidding activity.
- Strategic partnership with CATL removes overhang and enables expanded supply chain and green energy collaborations.
- Overseas expansion targeted; first project expected in Malaysia or Thailand by end-2026.
- Funding visibility is strong, with capex well supported by operating cash flow, loans, and REIT proceeds.
above is an excerpt from a report by DBS Group Research. Clients of DBS Group Research can be the first to access the full report from the DBS website : https://www.dbs.com
