Tiger Brokers

BUZZ-Australia's Macquarie Technology gains as Macquarie initiates coverage with 'outperform'

Reuters
Oct 01
BUZZ-Australia's <a href="https://laohu8.com/S/MAQ.AU">Macquarie Technology</a> gains as <a href="https://laohu8.com/S/MQG.AU">Macquarie</a> initiates coverage with 'outperform'

** Shares of Macquarie Technology Group MAQ.AX rise 4.2% to A$66.38

** Stock eyes its strongest trading session since September 11, if gains sustain

** Macquarie Technology is a data centre, cloud, cybersecurity and telecom firm with both corporate and government customers

** Macquarie initiates coverage with "outperform" rating and target price A$97.3, a 52.8% premium to stock's last close

** Brokerage says co well-positioned to benefit from accelerating demand in Australia's data centre market, with expectations of hyperscale and AI segments to expand even faster

** Sees co's data centre earnings to accelerate from fiscal 2028, to increase to ~60% from ~35% of group earnings over FY2026-FY2030

** Macquarie adds co's telecom segment is "mature", but sees it as a "cash generator" and important for growth outlook

** Stock down 24.6% YTD, including the day's moves

(Reporting by Nikita Maria Jino in Bengaluru)

((Nikita.Jino@thomsonreuters.com;))

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