0052 GMT - NextDC's contract utilization update suggests upside to consensus expectations for FY 2028 earnings, according to its bull at Citi. Analyst Siraj Ahmed tells clients in a note that a 73-megawatt increase in contracted utilization over the last 10 weeks of FY 2026 is unlikely to surprise investors, but points out that a contract like this is likely to be more lucrative. Assuming NextDC can generate 1.6 million Australian dollars of Ebitda per megawatt, Ahmed suggests the contract implies A$115 million in annual Ebitda. With a fast ramp up in capacity, he sees potential for 75% of it to be generating earnings in FY 2028, or A$85 million of Ebitda. Citi has a last-published buy rating and A$19.10 target price on the stock, which is up 3.0% at A$13.44. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

July 20, 2026 20:52 ET (00:52 GMT)

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