Stock Track | Megaport Ltd Soars 7.72% on Positive Analyst Report Citing Compute-as-a-Service Platform Value
Stock Track
Yesterday
Megaport Ltd's stock surged 7.72% during intraday trading on Wednesday, marking a significant upward movement for the connectivity services provider.
The rally follows a positive analyst report from Morgans, which maintained a buy rating on the stock. Analyst Nick Harris highlighted potential catalysts for the stock to rerate, particularly as the company proves the value added through its recently acquired compute-as-a-service platform. Harris also identified margin improvement as another potential catalyst for shares and raised his EBITDA targets by 22% for fiscal 2027 and 15% for fiscal 2028, citing lower operating-cost expectations. Morgans increased its target price by 3.2% to A$16.00.
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.