Updates

** Data centre landlord Goodman Group GMG.AX stock jumps 4.3% to A$31.28, best day since April 8

** Jefferies ("Buy", PT: A$30) notes GMG's 3 gigawatt pipeline, including newly tracked projects, could generate $30+ bln in future development margin

** Says GMG "relatively immune" from project cancellations, community opposition vs peers

** Highlights capital partnering, where stakes in projects are sold to investors, helps de-risk earnings & assets under management growth over medium-to-long term, while supporting funding flexibility

** Also sees scope for earnings upgrades, with development profits from European and North American partnerships in 2Q & 3Q likely to support earnings growth and a potential re-rating'

** YTD, stock up 0.5%