In a strong start to 2023, NextDC now has 120MW of contracted capacity, which already outpaces Morgans last forecast for 101MW by June 30 this year.

This has been achieved following the largest contract win in the company's history (around 36MW), which brings the new S3 site up to being 46% sold from zero. 

Based upon inventory on hand and other assumptions, the broker believes NextDC could execute another four similar sized deals.

The target rises to $13.50 from $13.00. Add.

Sector: Software & Services.

Target price is $13.00.Current Price is $12.02. Difference: $0.98 - (brackets indicate current price is over target). If NXT meets the Morgans target it will return approximately 8% (excluding dividends, fees and charges - negative figures indicate an expected loss).

© 2023 Acquisdata Pty Ltd., source FN Arena