The company has hit the target of 300 physical data centres as well as increased services and customers. UBS believes the compounding effect of stronger quarterly growth could have a material impact on the long-term revenue potential.
The broker continues to highlight the multiple opportunities for upside and maintains a Buy rating. Upgrades to revenue estimates of 2-8% are incorporated for FY19-22. Target is raised to $8.65 from $6.25.
Sector: Software & Services.
Target price is $8.65.Current Price is $7.55. Difference: $1.10 – (brackets indicate current price is over target). If MP1 meets the UBS target it will return approximately 13% (excluding dividends, fees and charges – negative figures indicate an expected loss).
