Comvita shares slump 9.4% on Deutsche Bank downgrade, news of Myrtle Rust in NZ

Fri, 05 May 2017

By Paul McBeth May 5 (BusinessDesk) - Comvita shares sank 9.4 percent as investment analysts cut their valuation for the manuka honey products maker, coinciding with yet another problem out of the Te Puke-based company's control with the discovery of Myrtle Rust in the Far North. The shares fell as low as $6.07 in early trading today, the lowest since Jan. 23, and were recently down 65 cents to $6.25 after Deutsche Bank cut its price target for the stock to $7.05 from a previous target of $9. Deutsche Bank owns a stake in broking and res...

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