There’s a lot to be optimistic about in the Technology sector as 2 analysts just weighed in on Megaport Ltd. (MGPPF – Research Report) and Telstra Corporation Limited (TTRAF – Research Report) with bullish sentiments.
Megaport Ltd. (MGPPF)
In a report released today, Siraj Ahmed from Citigroup maintained a Buy rating on Megaport Ltd., with a price target of A$10.95. The company’s shares closed last Tuesday at $5.88.
According to TipRanks.com, Ahmed is a 3-star analyst with an average return of 5.3% and a 45.5% success rate. Ahmed covers the Technology sector, focusing on stocks such as Nextdc Limited, REA Group Ltd, and Xero Limited.
Megaport Ltd. has an analyst consensus of Moderate Buy, with a price target consensus of $6.02, implying a 2.4% upside from current levels. In a report issued on February 10, UBS also maintained a Buy rating on the stock with a A$12.30 price target.
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Telstra Corporation Limited (TTRAF)
Morgan Stanley analyst Andrew McLeod maintained a Buy rating on Telstra Corporation Limited today and set a price target of A$4.75. The company’s shares closed last Wednesday at $2.98, close to its 52-week high of $2.99.
McLeod has an average return of 3.5% when recommending Telstra Corporation Limited.
According to TipRanks.com, McLeod is ranked #7837 out of 8348 analysts.
Currently, the analyst consensus on Telstra Corporation Limited is a Strong Buy with an average price target of $3.18, which is a 6.7% upside from current levels. In a report released today, Macquarie also maintained a Buy rating on the stock with a A$4.64 price target.
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