Energy stocks dip as analysts say prices are based on heroic assumptions

Energy stocks dip as analysts say prices are based on heroic assumptions
Electricity company shares could be in for a shock says analysts. (Image: NZME)
Ian Llewellyn
Share prices in four of the five major electricity companies dipped on Friday following a Forsyth Barr analysis, which said the sector was in for a shock as it was overpriced.Meridian slipped 23 cents to $4.85, Mercury was down 19.5c to $5.85, Contact 7c to $7.88, and Manawa 12c to $4.35, after all but Contact were given 'underperform' ratings by the Forbarr analysts.Genesis was up 2c to $2,44 after it (and Contact) were marked as preferred picks in the sector, even if it was with just a 'neutral' rating.The analysis said the el...

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