Megaport (OTCMKTS:MGPPF) Downgraded to Hold at Canaccord Genuity Group

Megaport (OTCMKTS:MGPPF – Get Rating) was downgraded by equities researchers at Canaccord Genuity Group from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday, The Fly reports. They presently have a 11.00 price target on the stock, down from their previous price target of 15.70.

Other equities analysts also recently issued reports about the stock. JPMorgan Chase & Co. raised shares of Megaport from an “underweight” rating to a “neutral” rating and set a $15.50 price target on the stock in a research note on Wednesday, January 19th. The Goldman Sachs Group began coverage on shares of Megaport in a research report on Sunday, January 23rd. They set a “buy” rating on the stock.

Shares of OTCMKTS MGPPF remained flat at $$9.80 during mid-day trading on Friday. Megaport has a fifty-two week low of $8.45 and a fifty-two week high of $15.39. The stock has a 50-day simple moving average of $9.73 and a 200 day simple moving average of $11.89.

Megaport Company Profile (Get Rating)

Megaport Limited provides elastic interconnection services to the enterprises and service providers in Australia, New Zealand, Hong Kong, Singapore, Japan, North America, and Europe. It operates a platform that enables customers to connect their network to other services, as well as creates agile network that connects in multiple regions; and Megaport virtual edge platform that enables businesses to connect to Megaport's ecosystem of service providers.

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