Credit Suisse reinstates coverage with a Neutral rating and $11.35 target.
The broker envisages NextDC will be a beneficiary of higher demand resulting from work-from-home arrangements.
Moreover, it is operating in an industry which is already exposed to structural growth.
The market is highly competitive but recent contract wins should underpin the near-term development pipeline.
Sector: Software & Services.
Target price is $11.35.Current Price is $10.76. Difference: $0.59 – (brackets indicate current price is over target). If NXT meets the Credit Suisse target it will return approximately 5% (excluding dividends, fees and charges – negative figures indicate an expected loss).
