This week saw Macquarie Group (MQG) name Megaport (MP1) as their favourite Australian tech stock, a very contrarian call considering its more than 40% plunge since late 2021. They believe the cloud computing companies marketing strategy will be enough to overcome the downside risks from its pricing model, obviously time will tell but we like the risk / reward into new lows for the year which is definitely not out of the question considering the stocks recent decline.
MM likes MP1 around $12
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