NEXTDC Trading Below Equinix On Per Megawatt Basis, Says Jefferies
MT Newswires Live
Oct 29
NEXTDC (ASX:NXT) is currently trading below its US-listed competitor Equinix on a per megawatt basis, said Jefferies in a Monday note.
Jefferies believes that, according to its alternative valuation approach for NXT, which views the company as a property developer, the data center operator's existing assets and the next 600 megawatts are valued at around AU$19, close to the investment firm's target price.
The investment firm added that if NXT proceeds with the next 710 megawatts of land bank after fiscal 2031, this could potentially add another AU$8 per share.
Jefferies has kept a buy rating on NXT and a price target of AU$19.50.
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