BUZZ — Australia's NEXTDC falls on data centre regulatory concerns; Citi remains cautious

* Shares of Australia's NEXTDC down as much as 4.2% at A$11.040 * Citi says higher funding costs, including the impact of elevated interest rates are weighing on the technology company's share price * Adds that increasing political and regulatory pushback for data-centre (DC) development in AU could delay approvals for co's expansion pipleine and future contract wins * On Tuesday Australia's Victoria state government, where co operates its major DCs, announced the prohibition of construction of DC's in residentail zones * Brokerage, however, flags strong underlying demand for DCs and says the AI-driven growth cycyle is still in its early stages * Twelve of thirteen analysts rate the stock "buy" or higher and one rate "hold"; their median PT is A$19.40 — LSEG data * Stock down 8.7% YTD, including sessions' moves (Reporting by Shravya Marakini in Bengaluru) ((shravya.marakini@thomsonreuters.com;)