Updates

** Shares of Australia's Megaport MP1.AX rise as much as 5.6% to A$13.280

** Analysts at Morningstar upbeat on MP1 after its unit Latitude bagged three large contracts worth around A$250 million ($180.60 million) on Thursday

** "Latitude is proving to be a well-timed acquisition" - Morningstar

** In November, MP1 acquired Latitude, a global, automated infrastructure platform, for $150 million upfront

** Investment research firm Morningstar raises fair value estimate for company by 7% to A$15

** "Recent contract wins by Latitude prove the merits of its acquisition by MP1" - Jefferies

** "We see MP1 taking a steady, disciplined approach to growing the Latitude business, pursuing deals that deliver adequate return" - brokerage

** Jefferies raises PT to A$18.40 from A$16.30, retains "buy" rating

** MP1 shares up more than 7% this year

($1 = 1.3843 Australian dollars)