BUZZ-Citi raises PT on data centre operator NextDC amid rising AI demand

Reuters10-21

** Analysts at Citi raise price target on Australia's NextDC

to A$20 from A$19.25; maintain "buy" rating on stock

** Brokerage sees the data centre operator well positioned to benefit from the increased demand amid the artificial intelligence frenzy

** Says positive demand scenario remains solid, with technology giant Microsoft noting that Australia is a key global market for data centres

** NXT’s Asian facilities could add strategic value, especially from a customer perspective - Citi

** Brokerage expects need for co to raise equity to reduce over the medium term as NXT increases leverage on wholesale facilities

** Stock has risen 26.8% this year, as of last close

(Reporting by Rishav Chatterjee in Bengaluru; Editing by Lisa Shumaker)

((Rishav.Chatterjee@thomsonreuters.com;))

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