Morgan Stanley trims PT on Goodman Group over data centre caution

Goodman

01/04/2025 23:28

** Analysts at Morgan Stanley cut their price target on Australia's data centre landlord Goodman GroupGMG.AX to A$37.5 from A$40.82

** Brokerage sees increased risks around data centre pipeline globally after recent reports that rollout of data centres may be moderated by big tech firms

** "However, as GMG is an early mover in this field, we believe that on balance, it will still be a net winner," Morgan Stanley says

** Eight of 10 analysts rate stock "buy" or higher, 2 "hold"; their median PT is A$39.50 – LSEG data

** Stock closed at A$29.19 on Tuesday, down 18.1% YTD

 (Reporting by Aaditya Govind Rao in Bengaluru)

 ((Aaditya.govindrao@thomsonreuters.com;))