** Citi shows confidence in data centre operator NEXTDC NXT.AX despite industry concerns, driven by Microsoft's unrelenting data centre capex plans
** Brokerage maintains "buy" rating with a target price of A$20/share
** Despite concerns over potential contract delays, Citi remains positive about the data centre development in Australia, backed by Microsoft's planned $80 billion spend on AI-enabled data centres in FY25
** Brokerage flags that the stock's performance could be impacted by trends in AI
** Citi expects a surge in demand for data centres due to increased capex by Big 4 cloud companies
** 15 analysts rate the stock as 'buy' or higher, including 3 rating it as 'strong buy'; their median PT is A$19.35 – LSEG data
** Shares of co last year gained 11%
(Reporting by Kumar Tanishk in Bengaluru; Editing by Lisa Shumaker)
((Tanishk.Kumar@thomsonreuters.com;))
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