Australia's Megaport extends gains to hit more than 3-1/2-year high

Megaport

03/11/2025 02:22

** Shares of IT services provider Megaport MP1.AX rise as much as 6.4% to A$17.52, their highest level since January 18, 2022

** Stock marks biggest intraday pct gain since September 22; top gainer on the ASX 200 benchmark .AXJO

** MP1 heads for a third straight session of gains

** On Thursday, Macquarie raises PT to A$18.5 from A$16.9, upgrades EPS estimates by 7% and 5% for FY27 and FY28, respectively

** MP1 stock has more than doubled in value so far this year

(Reporting by Sneha Kumar in Bengaluru)

((Sneha.kumar@thomsonreuters.com;))