Citi lowers Megaport's FY25e revenue forecast, cuts PT

Megaport

06/05/2024 19:28

** Citi cuts Australia's Megaport's  MP1.AX  target price by
4% to A$16.05 as the brokerage lowers its FY25e revenue forecast
by 3% to A$235 mln  ($155.76 mln)
    ** Brokerage also lowers FY25e EBITDA forecast by 6%, citing
softer-than-expected Q3
    ** Citi, however, retains "buy" rating as it expects co to
benefit from structural drivers of hybrid and multicloud (two
different types of cloud computing)
    ** Nine of 14 analysts rate the stock "buy" or higher, five
"hold" and none "sell" or lower; their median PT is A$15.20 –
LSEG data
    ** Stock has risen over 50% YTD

($1 = 1.5088 Australian dollars)

 (Reporting by Rajasik Mukherjee in Bengaluru)
 ((Rajasik.Mukherjee@thomsonreuters.com;))