sure the company itself is strong, it's the valuation that's the...

sure the company itself is strong, it's the valuation that's the issue. NXT is the most sensitive-to-yields stock on the entire ASX, with valuation only rivalled by PME. it is the most overpriced most expensive stock in the ASX tech sector. with near 4% US 10 year NXT should be $7 already, without energy cost/billing utilization issues.

i agree with the other guy, fair price is in $6-$7 range. it's amazing how it just won't drop when nasdaq and ASX tech XIJ are getting hammered day after day, just following XIJ and nasdaq it should be $8 already. you might argue it's not a tech stock but a REIT/utilities company, mostly REIT, look at how hard ASX REITs have been smashed, XRE dropped a lot more than XIJ. clearly somebody is holding NXT up.