NZ's Infratil jumps to record high as CDC lands Australia data‑centre deal

Goodman

06/05/2026 05:21

Updates

** Infratil IFT.NZ jumps to a record NZ$14.54, rising as much as 13.2% in its biggest intraday surge since early December 2020

** Infrastructure investment firm leads the benchmark stock index NZ50 .NZ50 higher, topping gainers as the index rises 0.8%

** CDC Data Centres, where IFT is a top shareholder, has clinched Australia’s "largest data centre contract", a 555 megawatt deal lifting total contracted capacity beyond 1 gigawatts

** Citi lifts target price to NZ$15.70 from NZ$14.20, reiterates "buy" rating, flagging upside from NAV accretion and a narrowing discount, with positive spillovers for data‑centre peers like landlord Goodman GMG.AX

** Jarden says the scale is materially larger than expected and provides strong support for its 'buy' thesis, keeps target price unchanged at NZ$14.56

** YTD, IFT has surged 29.2%, sharply outperforming the NZ50’s 3% decline

(Reporting by Anjali Singh and Kumar Tanishk in Bengaluru)

((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk http://www.x.com/thatstanishk;))