Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
Hi James and Team, Thankyou for your regular updates. Following the bidding war for UWL, I was wondering if you could provide an opinion on the digital infrastructure industry on the whole? In particular if you like mobile tower companies American Tower (AMT) and Crown Castle (CCI) currently from a risk reward perspective? And if you had a preferred business locally or internationally in the space? Thanks in advance.
Hi Jack,
A very topical question, currently from a risk reward perspective? And if you had a preferred business locally or internationally in the space?
American Tower (AMT US) – we like this $US122bn Boston based business initially targeting 15-20% upside however we would run stops at $US240, around 10% lower so risk reward is ok but not compelling.
Crown Castle (CCI US) – looks very similar to AMT, we also are targeting fresh highs 15-20% higher with stop this time under $US180, about 9% lower.
In terms of ASX listed opportunities, some of the data centre providers look interesting, NextDC (NXT) has pulled back to interesting levels, Global Data Centres (GDC) is the value pick in the space.
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