0346 GMT - Macquarie Technology's bulls at Morgan Stanley think the market is still underestimating the demand for data centers over the next five years, including those operated by the Australian company. They tell clients in a note that they are more bullish than other analysts on structural growth in demand for cloud services, computing power and AI models. They see this driving the demand for data-center capacity, which supports their unchanged overweight rating on the stock. Their base-case scenario is for Australia's data-center market to grow annually at an average 18% through 2030. Macquarie lowers its target price 1.2% to A$82.00. Shares are up 4.1% at A$70.41. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

April 19, 2026 23:46 ET (03:46 GMT)

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