CORRECT: Air NZ shares still over-priced as growing uncertainties cloud earnings outlook: FNZC

Tue, 07 Nov 2017

(Fixes analyst's name in 2nd paragraph) By Paul McBeth Nov. 8 (BusinessDesk) - Air New Zealand shares are trading higher than what First NZ Capital reckons is fair value, and while the national carrier has a number of tailwinds, the research house sees some clouds on the horizon for the airline's earnings. FNZC analyst Andrew Steele lifted the stock's target price to $2.90 from $2.55, citing Air NZ's ability to deliver a return equal to the cost of its capital over the long-run, however he affirmed its 'underperform' rating to reflect...

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