Jefferies upgraded Megaport (MGPPF) to Buy from Hold with a price target of A$20, up from A$15. The firm likes the acquisition of Latitude.sh, which it says should bolster Megaport’s growth profile and provide cross-selling opportunities, calling the multiples being paid and payback period of capex spend “attractive.”
Meet Samuel – Your Personal Investing Prophet
- Start a conversation with TipRanks’ trusted, data-backed investment intelligence
- Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MGPPF:
- Megaport Implements New Securities Trading Policy to Combat Insider Trading
- Megaport Limited Announces Proposed Securities Issue to Bolster Growth
- Megaport Limited Announces Proposed Securities Issue to Boost Capital
- Megaport Announces Equity Raising for Strategic Acquisition and Expansion
- Megaport Expands with Latitude.sh Acquisition and India Network Investment