Megaport downgraded to Sector Perform from Outperform at RBC Capital

RBC Capital downgraded Megaport to Sector Perform from Outperform with a price target of A$11, down from A$15. FY24 was largely in line, but the FY25 guidance was below market estimates, driving a stock correction, notes the analyst, who sees “few sustainable near-term catalysts” and awaits evidence of success in driving an enhanced product mix.