0005 GMT - NextDC's bull at Citi reiterates their buy call on the Australian data-center provider, with capacity demand still strong and operating leverage on the horizon. Analyst Siraj Ahmed tells clients in a note that FY 2025 contract wins were in-line with his forecasts, which was a strong result given it did not lock down any new deals in Sydney and that Microsoft delayed or paused some contracts. He anticipates another record year in FY 2026, albeit weighted toward the second half. Upside to his forecasts is linked to development and expansion work, Ahmed adds. He sees operating leverage emerging in FY 2027. Citi trims its target price 1.9% to A$18.35. Shares are down 0.3% at A$13.78. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

July 15, 2025 20:05 ET (00:05 GMT)

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