New Zealand's Infratil rises on upbeat CDC valuation; Citi rates stock 'buy'

Shares of Infratil Ltd IFT.NZ rise as much as 2.3% to NZ$11.69, their highest level since December 10

Quarterly external valuation for CDC data centre, where IFT holds a 49.7% stake, increases by 2.5% to A$14 billion as at December 31

Analysts at Citi say the rise in valuation implies a ~A$173 million increase in net asset value for IFT

Citi rates stock at 'buy'

Nine of 10 analysts rate the stock "buy" or higher, one "hold"; their median PT is A$13.82 – according to data compiled by LSEG

Infratil stock down 12.1%, YTD