1844 ET - Australian data-center operator NextDC's A$550 million capital raise looks designed to take advantage of recent share-price gains, Jefferies analyst Roger Samuel writes in a note. Pointing out that NextDC raised A$1.32 billion as recently as April, Samuel sees the recent boost from Blackstone's A$24 billion acquisition of local rival AirTrunk, and NextDC's inclusion in real-estate industry body Nareit's latest quarterly review, as the reason for the timing of the raise. He thinks that real-estate investors could come on board with the latest raise, which will fund further expansion in Asia. Jefferies has a buy rating and A$20.03 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 18:44 ET (22:44 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.