Infratil shares lift after Macquarie analyst upgrade
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More news: Infratil shares were higher in afternoon trading after Macquarie analysts lifted their position on the stock from ‘neutral’ to ‘outperform’ and hiked their target price by 18%.
Infratil’s share price had increased by 1.3% to $10.60 at 1:35pm AEST. Infratil will be added to the S&P/ASX 200 index prior to market open on 23 July.
Macquarie upgrades position on Infratil and lifts target price
The news: Macquarie analysts upgraded their position on New Zealand-based infrastructure company Infratil from ‘neutral’ to ‘outperform’ and lifted their target price by 18%, resuming coverage on the stock after a year.
The numbers: Macquarie analysts set a 12-month target price of NZD12.32 ($11.27), which is an 18% increase on the last published estimate in July 2024. Infratil shares last closed at $10.46.
The context: Infratil owns a 50% stake in CDC Data Centres, which presents upside risk for the Macquarie analysts.
In a research note, the analysts said they “remain bullish on Data Centre contract news flow as we expect continued growth in demand over the next two to three years”.
The analysts also factor a 25% discount to renewable energy company Longroad Energy’s independent valuation amid the effects of the US’ One Big Beautiful Bill Act. Longroad is also half owned by Infratil.
Infratil will be added to the S&P/ASX 200 index prior to market open on 23 July.
The source: Macquarie research
