1901 ET - NextDC's expansion of its model for data centers built specifically to customers' needs should help increase access to capital, Macquarie analysts write in a note. They tell clients that the longer contract durations expected at built-to-specification data centers should allow the Australian operator to secure a higher loan-to-value ratio at the asset level, borrowing against the contracts. Key customers have highlighted that supply is their key growth constraint, the analysts observe. Demand is there and NextDC must execute, they say. Macquarie keeps an outperform recommendation and A$21.20 target price on the stock, which is at A$17.84 ahead of the open. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
September 10, 2024 19:01 ET (23:01 GMT)
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