Australia's Macquarie Technology gains as Morningstar lifts valuation on data centre optimism

Reuters
2025.12.04 00:44
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Morningstar raises Macquarie Technology's fair value estimate by 4% to A$70, citing confidence in data center returns. The IC3 SuperWest project is on schedule, with 6 megawatts ready by September. Over 20% of the company's market value is linked to data center investments. Morningstar views the stock as modestly undervalued amid AI market sentiment. Shares rose 1.8% to A$65.78, but are down 27.2% YTD.

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