Megaport (ASX:MP1) share price jumps 7% on broker upgrade

Published

4 years ago

January 21, 2021

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.

Related Topics:fool.com.au

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