Australia's Megaport rises on AI infrastructure contracts; Citi hikes PT

By Reuters News

** Shares of Australia's Megaport MP1.AX rise as much as 9% to A$22.07

** Shares up nearly 10.2% for the week, poised to post best weekly performance since early August, if current trend holds

** The IT firm said on Tuesday it signed three new AI infrastructure contracts for A$978.6 million ($677.97 million) and upgraded its earnings forecast for 2027

** Citi upgrades PT by 17% to A$28.85, retains "buy'

** Brokerage upgrades FY27 and FY28 EBITDA outlook by 28% each

** YTD, Megaport stock up 85%


($1 = 1.4434 Australian dollars)

Capital.com is an execution-only brokerage platform and the content provided on the Capital.com website is intended for informational purposes only and should not be regarded as an offer to sell or a solicitation of an offer to buy the products or securities to which it applies. No representation or warranty is given as to the accuracy or completeness of the information provided.
The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.
To the extent permitted by law, in no event shall Capital.com (or any affiliate or employee) have any liability for any loss arising from the use of the information provided. Any person acting on the information does so entirely at their own risk.
 

Cryptocurrency-related content is intended solely as news and market commentary. Crypto Derivatives are not available to Retail clients registered with Capital Com (UK) Ltd.