Goodman Group Ltd shares rose 2% to A$31.96 at market open after UBS upgraded the stock to Buy with a A$36 price target, citing “increasing confidence around the DC funding picture.”
The move follows Goodman’s A$4 billion capital raise for its data centre expansion.
UBS expects “consistently strong double digit EPS growth” despite funding risks.
Shares had fallen to A$25.01 in April amid broader pressure on data centre stocks linked to Donald Trump’s tariff policy.