NXT recommenced trading on Monday after raising $1.32bn at $15.40 per share, around 3% below where the stock closed on Monday. We are considering the data centre operator post the raise, as it looks towards rapid expansion to satisfy unprecedented customer demand. However, as we already hold Goodman Group (GMG) for data centre exposure, any purchases will be fussy in terms of price.
- We like NXT’s outlook and following the raise, the stock is appealing from a risk/reward perspective in the $15 area, or around ~5% lower.
MM remains bullish toward NXT
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