Research Disclosures & Disclaimers

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GDS (GDS.O)*

UBS Rating and Price Target History Chart

Line chart explaining Price target vs Stock Price is described in below table

EQ Rating & Price Target Table

Date	Stock Price (US$)	Price Target (US$)	Rating
2022-04-11	34.55	-	No Rating
2022-04-28	29.63	52.00	Buy
2022-05-19	31.09	50.00	Buy
2022-07-24	28.10	46.50	Buy
2022-08-24	26.91	45.00	Buy
2022-11-03	9.21	13.00	Buy
2022-11-23	11.72	20.00	Buy
2023-01-05	25.23	35.00	Buy
2023-03-29	19.66	32.20	Buy
2023-09-04	12.29	18.00	Buy
2024-02-23	7.02	10.50	Buy
2024-03-28	6.65	11.30	Buy
2024-05-22	8.01	12.40	Buy
2024-08-25	16.69	-	No Rating
2024-08-26	17.04	23.00	Buy
2024-11-04	20.47	30.10	Buy
2024-11-19	19.68	28.30	Buy
2025-02-20	48.50	66.00	Buy
2025-03-19	30.61	58.00	Buy
2025-05-16	27.23	45.00	Buy

Disclosures

UBS has acted as manager/co-manager in the underwriting or placement of securities of this company/entity or one of its affiliates within the past 12 months.
Within the past 12 months, UBS has received compensation for investment banking services from this company/entity or one of its affiliates.
UBS expects to receive or intend to seek compensation for investment banking services from this company/entity within the next three months.
This company/entity is, or within the past 12 months has been, a client of UBS Securities LLC, and investment banking services are being, or have been, provided.
UBS beneficially owned 1% or more of a class of this company`s common equity securities as of last month`s end (or the prior month`s end if this report is dated less than 10 days after the most recent month`s end).
UBS Securities LLC makes a market in the securities and/or ADRs of this company.
UBS holds a long or short position of 0.5% or more of the listed shares of this company.

Note : Historical Price Targets have been adjusted to account for any stock splits, rights issues and/or dividends which may have occurred for this security. Not Priced: Stock was not priced on the given date. No Rating: Issuer was not rated by UBS on the given day. No Price Target: For this issuer no Price Target was set by UBS on the given day. Issuers with an EQ Rating & Price Target Table are covered by UBS-IB Equity Research Analysts. Issuers without an EQ Rating & Price Target Table are not single stock covered.

* Issuers marked with an asterisk are covered by UBS-IB Equity Research Analysts. Issuers without an asterisk are not single stock covered.