2340 GMT - Macquarie Technology's A$200 million investment from an Australian sovereign wealth fund is seen at Cannacord Genuity as a strong endorsement of its business. Analyst Conor O'Prey tells clients in a note that the investment from Australia's National Reconstruction Fund is a particular vote of confidence in the telecommunications provider's cloud services and government offering. O'Prey writes that the investment gives Macquarie Technology significant flexibility over its future funding options. He adds that NRF is likely to have conducted extensive due diligence, so the implied endorsement is a real positive. Canaccord Genuity has a buy rating and A$95.00 target price on the stock, which is down 1.8% at A$65.95. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
Macquarie Technology's A$200 million investment from an Australian sovereign wealth fund is seen at Canaccord Genuity as a strong endorsement of its business. Analyst Conor O'Prey tells clients in a note that the investment from Australia's National Reconstruction Fund is a particular vote of confidence in the telecommunications provider's cloud services and government offering. O'Prey writes that the investment gives Macquarie Technology significant flexibility over its future funding options. He adds that NRF is likely to have conducted extensive due diligence, so the implied endorsement is a real positive. Canaccord Genuity has a buy rating and A$95.00 target price on the stock, which is down 1.8% at A$65.95. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
March 11, 2026 19:41 ET (23:41 GMT)
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