0236 GMT - NextDC's stock could rerate significantly if the Australian data-center operator secures a joint-venture partner to diversify its funding options, UBS analysts say. They see any signing of a JV as the biggest step change in NextDC's funding, and one that would likely drive a big rerate from investors. They tell clients in a note that NextDC's current funding covers its fiscal 2027 and fiscal 2028 commitments, plus 500 million Australian dollars for its S5 Sydney center. However, they reckon that further contract wins or an acceleration of the timeline for its S4 facility require a shift in funding structures. UBS has a buy rating on the stock and lifts its target price by 4.0% to A$23.45.
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