Megaport : Morgans rates MP1 as Add

First half results were in line with forecasts. Morgans reduces earnings (EBITDA) forecasts by -5% following a more detailed review of estimates.

An Add rating is maintained and key catalysts relate to the possibility of Megaport's inclusion in the ASX 200 index.

The target is raised to $12.94 from $11.38.

Sector: Software & Services.

Target price is $12.94.Current Price is $10.80. Difference: $2.14 - (brackets indicate current price is over target). If MP1 meets the Morgans target it will return approximately 17% (excluding dividends, fees and charges - negative figures indicate an expected loss).

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