OUR QUEST IS NOT TO BE BULLISH OR BEARISH, BUT TO CORRECTLY ASSESS FUTURE TRENDS

UBS rates MP1 as Buy

Megaport has received a major contract for computing and storage worth US$25.1m from a US-based unlisted technology business operating in the development tool sector. UBS assesses this contract de-risks around 20% of FY27 US compute revenue growth.

It is also a positive indication of some of the new larger scale opportunities opening up for the business. Analysis suggests the company could reach the top end of revenue guidance and the broker retains a Buy rating and $14.65 target.

Bell Potter rates MVP as Buy

Medical Developments International announced a rise in 3Q26 revenue of around 17.9% y/y with year to date revenue up 10.3% y/y and notably the quarter would have achieved stronger revenue were it not for around -$1m impact from the respiratory division, Bell Potter explains.

The analyst points to this quarter as seasonally strongest but the update was well received the analyst highlights with demand for Penthrox from the domestic government sector up circa 19%, off a low base, and European in-market demand had volume growth of 19%,

Year-to-date cash flow around $2.8m compared to circa $1m last year in the same period.

No change to Buy rating and 85c target. EPS forecasts remain unchanged also.

Citi rates PLS as Neutral

Pilbara Minerals delivered a strong March quarter, according to PLS Group, with production and costs 'beating' consensus forecasts and supported by solid cash generation.

The analyst explains operational performance improved on higher mining volumes, stable recoveries and stronger grades, while sales lagged production, providing a potential tailwind into the next quarter.

FY26 guidance remains unchanged.

Key growth initiatives, including the Ngungaju restart (the second processing plant at the Pilgangoora operation) and the mid-stream project (to upgrade spodumene concentrate) are progressing as planned.

Citi retains a Neutral rating with a $5.25 target.