Jefferies raises PT for Australia's Megaport

Megaport

11/07/2023 20:24

** Analysts at Jefferies raise price target to A$9.55 from
A$7.40 for cloud services provider Megaport Ltd  MP1.AX  
    ** Co upgrades FY23 normalised EBITDA to be in range of A$19
mln ($12.67 mln) to A$21 mln 
    ** Co expects FY24 EBITDA guidance to be higher than
previous guidance of A$41 mln to A$46 mln 
    ** Brokerage forecasts revenue growth of 41% in FY23,
followed by 23% in FY24; rates co at "hold" 
    ** Post acquisition by New Zealand-based Infratil Ltd
 IFT.NZ , Console Connect could be a more formidable competitor
to MP1 - Jefferies 
    ** Console Connect provides software-defined networking
services 
    ** Seven of 13 analysts rate the stock "buy" and five "hold"
and one "sell"; their median PT is A$8.30 - Refinitiv Data
    ** Shares of co are up 6.5% YTD as of last close 
   


($1 = 1.4999 Australian dollars)

 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))