Following pre-announced 1H results, UBS is extremely upbeat on Megaport’s prospects and expects early signs of an uplift in the third and fourth quarters before an acceleration in FY23.
Industry feedback suggests the company has superior technology and the right partnerships with leading industry players.
The broker maintains its Buy rating and $21.75 target price.
Sector: Software & Services.
Target price is $21.75.Current Price is $14.65. Difference: $7.10 – (brackets indicate current price is over target). If MP1 meets the UBS target it will return approximately 33% (excluding dividends, fees and charges – negative figures indicate an expected loss).
