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Buy, Hold, Sell – What the Brokers Say

In the good books

1. NEXTDC (NXT) was upgraded to Add from Hold by Morgans

Morgans upgrades to Add from Hold. The broker observes strong results are underpinned by significant structural growth. The broker had been concerned that market expectations for sales were too high but now assesses expectations have eased back to more realistic levels. The main concerns centre around the need to accelerate sales in the tier 2 facilities as well as the balance sheet. While the debt position appears full, Morgans appreciates there are long-term contracts that mean interest coverage increases in outer years as capital deployed starts to generate a return. Target is steady at $6.68.