BUZZ-Citi bullish on Australia's NEXTDC driven by Microsoft's data centre plans

Reuters

Jan 06, 2025

** 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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their median PT is A$19.35 – LSEG data </p><p>** Shares of co last year gained 11%</p><p> (Reporting by Kumar Tanishk in Bengaluru; Editing by Lisa Shumaker)</p><p> ((Tanishk.Kumar@thomsonreuters.com;))</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0980610538.SGD","symbol_name":"Natixis Harris Associates US Equity RA SGD-H","start_time":0,"source_url":"https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20250105:nL4N3O1039:1","article_id":"2501440224","we_media_id":"1032215980","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2501440224","pubTimestamp":1736112404,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1032215980","head_image":"https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48"},"summary":"BUZZ-Citi bullish on Australia's NEXTDC driven by Microsoft's data centre plans** 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'; 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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;))","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"corporation","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}