Australia's Megaport falls on discounted placement, Jefferies lifts PT on Latitude.sh buy

Megaport

12/11/2025 24:37

Updates

** Shares of Australian IT services provider Megaport MP1.AX fall as much as 3.7% to A$14.740

 ** Co is undertaking an A$200 million ($129.96 million) placement at an issue price of A$14.30 issue price

 ** Adds, issue price is at a 6.5% discount to the stock's last close

** Jefferies, however, upbeat co's buy of Latitude.sh - a global, automated infrastructure platform

** "We like the acquisition...which should bolster MP1's growth profile and provide cross-selling opportunities" - Brokerage

** Jefferies sees the deal generating strong revenue synergies for co

** Adds, co's core business is going well

** Jefferies hikes price target to A$20 from A$15, upgrades rating to "buy" from "hold"

** Ten of 14 analysts rate the stock "Buy" or higher, four "Hold"; their median PT is A$16 – data compiled by LSEG

** Stock up over 100% this year, including day's moves

($1 = 1.5389 Australian dollars)

(Reporting by Rajasik Mukherjee in Bengaluru)

((Rajasik.Mukherjee@thomsonreuters.com))