Business
Megaport (ASX:MP1) share price jumps 7% on broker upgrade
It has been a positive day of trade for the Megaport Ltd (ASX: MP1) share price on Thursday.
In afternoon trade the global elastic interconnection services provider’s shares are up 4% to $12.63.
At one stage today the Megaport share price was up as much as 7% to $12.98.
Why is the Megaport share price charging higher today?
The catalyst for the solid rise in the Megaport share price today has been a broker note out of Goldman Sachs this morning.
According to the note, the broker has upgraded the company’s shares to a buy rating with a $15.00 price target.
Even after today’s solid gain, this price target implies potential upside of approximately 19% for Megaport’s shares over the next 12 months.
Why did Goldman Sachs upgrade…
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