Australia's Macquarie Technology gains as Morningstar lifts valuation on data centre optimism

Macquarie Technology

04/12/2025 24:44

Updates

** Shares of Macquarie Technology Group MAQ.AX rise as much as 1.8% to A$65.78

** Morningstar hikes fair value estimate for the data centre firm by 4% to A$70, reflecting growing confidence in solid returns from data centre investments

** Flags co's new IC3 SuperWest project is on time and within budget, with 6 megawatts of capacity set to be ready for service from September

** The investment research firm says over 20% of co's current market value is attributable to its data centre investments and future aspirations in the digital infrastructure, underpinned by its 25-year track record of building and operating data centres

** Morningstar finds Macquarie Tech's stock "modestly undervalued" as it sways to market sentiments on the sustenance of the AI boom

** Macquarie Tech down 27.2% YTD, including the day's moves

 (Reporting by Nikita Maria Jino in Bengaluru)

 ((Nikita.Jino@thomsonreuters.com;))