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NEXTDC Ltd (NXT) $17.22

NXT has been on our Hitlist for a few weeks, and unfortunately, it has fallen short of our optimum entry levels. This has led us to reassess whether we should “scale in” to a position, almost hoping for lower levels, e.g., buy NXT around $17, looking to average below $16. Goodman (GMG) has made new all-time highs after a sharp pullback in August, and we’re pondering whether NXT will follow suit as it digests its recent $750mn capital raise of $17.15 to fund expansion into Asia.

  • We remain bullish on the data centre theme and currently hold no position; hence, we are considering initiating a position in NXT ~$17.
NXT
MM is bullish on NXT
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NEXTDC Ltd (NXT)
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