Canaccord sees benefits from Macquarie Technology's data centre expansion

Macquarie Technology

25/08/2023 24:08

** Canaccord Genuity expects benefits from Macquarie
Technology Group Ltd's  MAQ.AX  expansion of its IC3 Super West
data centre
    ** Maintains "buy" rating and PT of A$87.50
    ** The data center operator posted profit after income tax
attributable of A$17.7 million ($11.35 million) for 2023, up
from A$8.5 million a yr ago
    ** Increase in planned IC3 Super West capacity creates
potential for a further uplift, which would service demand from
AI workloads - Canaccord 
    ** Brokerage says absence of foregone consulting earnings
from future periods has no impact on its positive view on the
stock
    ** 4 analysts rate the stock "buy" or higher and 2 "sell";
their median PT is A$74.65 – Refinitiv data
    ** Stock up 9.6% this year, as of last close


($1 = 1.5591 Australian dollars)

 (Reporting by Poonam Behura in Bengaluru)
 ((Poonam.Behura@thomsonreuters.com))