Macquarie raises PT on Australia's Megaport

Global Brokerage

02/05/2023 05:21

** Analysts at Macquarie retain 'Neutral' on Australia's
Megaport  MP1.AX  after co reported a 'positive' third quarter
update 
    ** Brokerage says the group was able to weather a softer
sales period without raising capital; lifts Target Price to A$6
from A$5
    ** Raises FY23, FY24 and FY25 EPS estimates by 51%, 78% and
65% respectively reflecting announced cost-out program
    ** Stock is currently up 1.4%
    ** Positive update and faster-than-expected execution of
cost-out and price uplift of existing product was seen during
the quarter - Brokerage
    ** Stock has fallen 12% this year, as of last close 

 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))