Australia's Megaport rises; Citi sees upside risk for chip unit

Megaport

13/04/2026 06:22

Updates

** Megaport MP1.AX rises 2.4% to A$6.87; among top gainers on benchmark S&P/ASX 200 index .AXJO

** Citi says surge in GPU rental demand, sold-out GPUs, increasing prices suggest upside risks for Latitude, Megaport's computer infrastructure unit

** Suggests upside risks to Latitude's Annual Recurring Revenue, FY27 revenue forecasts

** However, Citi's analysis of hiring activity across Megaport, Latitude does not point to step-up in H2 hiring, although it still sees Megaport's job listings at elevated level

** Brokerage retains "Buy", PT at A$14.65

** Stock rated "Buy" on avg; median PT is A$15.33, per data compiled by LSEG

** MP1 down 43.6% YTD

($1 = A$1.4164)

 (Reporting by Jasmeen Shaikh and Nichiket Sunil in Bengaluru; Editing by Edmund Klamann)

 ((Nichiket.Sunil@thomsonreuters.com))