0351 GMT - Demand for data centers such as those operated by Australia's NextDC appears to be holding up amid recent economic uncertainty, Citi analyst Siraj Ahmed says. He points out that Alphabet's March-quarter results indicated that Google Cloud remains constrained by capacity, with the tech giant making no mention of any changes to demand due to macro shifts. Writing in a note to clients, Ahmed adds that Google also reiterated its capital-expenditure guidance, as expected. Citi has a buy rating and a target price of A$18.70 on NextDC's shares, which are up 2.4% at A$1167. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
April 28, 2025 23:51 ET (03:51 GMT)
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