Management has raised FY23 capex guidance due largely to new site acquisitions, which helps underpin long-term growth, according to the analyst.
The maintenance of underlying earnings guidance was effectively an upgrade, as it includes higher opex due to holding costs of the newly purchased sites, explains the broker.
Morgans expects material contract wins in the next six months and maintains its Add rating. The target slips to
Sector: Software & Services.
Target price is
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