0103 GMT - NextDC's bulls at UBS think that risks around delivery of its S5 data center have reduced with the latest land rezoning report by Australia's New South Wales state government. UBS analysts' interpretation of the report is that NextDC's planned S5 Sydney center will be assessed under old zoning rules, rather than under new rules that prohibit further data-center development within the relevant commercial zone. They warn in a note to clients that the data center has not been approved yet, but that the absence of a clear block is positive for its chances of approval. UBS keeps a buy rating on the stock and lifts its target price 3.1% to A$20.00. Shares are up 1.1% at A$16.73. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
December 02, 2024 20:03 ET (01:03 GMT)
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