0019 GMT - NextDC's bull at Jefferies doesn't see any sign from management that the data-center operator is about to experience a drought of new contract announcements. Analyst Roger Samuel tells clients in a note that the lack of new deals is a concern, but that demand remains strong. He expects NextDC's next large contract to come in Melbourne, where the company is rapidly expanding. He points out that contracts from so-called hyperscalers can be lumpy, adding that Jefferies's discussions with Microsoft indicate that the U.S. tech giant's data-center strategy is unchanged. Jefferies trims its target price 7.2% to A$18.58 but keeps a buy rating on the stock, which is down 2.2% at A$13.84. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
February 24, 2025 19:19 ET (00:19 GMT)
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