Channel rated as good investment as oil companies sell down

Channel rated as good investment as oil companies sell down
Analysts said Mobil’s sell down had created an overhang and a buying opportunity in the defensive yield space. (Image: Channel)
Ian Llewellyn
Channel Infrastructure has had its share rating upgraded by Forsyth Barr with the prospect of a further sell down in shares from its oil companies shareholders selling down their stake.The analysts said the fuels infrastructure company represented “very good value, particularly relative to other defensive yield and infrastructure names”.ForBarr said since Mobil Oil NZ sold out of Channel (CHI) in mid-December 2023, a share performance gap of about 10% has opened up between CHI and its peers, providing a buying opportunity. In additi...

More Markets

NZ sharemarket down ahead of big US election
Markets Market close

NZ sharemarket down ahead of big US election

The S&P/NZX 50 Index closed at 12,648.07, down 46.77 points or 0.37%.

Graham Skellern 31 Oct 2024
CMC markets seeks NZX accreditation
Markets

CMC markets seeks NZX accreditation

The Australian firm with over a million retail investors wants to be listed here too.

Staff reporters 31 Oct 2024
Vista board unlikely to be spilt, says Craigs
Markets

Vista board unlikely to be spilt, says Craigs

The board of NZX, ASX listed cinema company Vista likely to remain despite calls contrary

SkyCity to put compliance ahead of profits
Markets

SkyCity to put compliance ahead of profits

Tough market conditions and regulatory issues still challenges, casino operator says. 

Dileepa Fonseka 31 Oct 2024