Jarden says selloff of NZX shares is overdone

Jarden analyst Grant Lowe has a $1.51 12-month target price for NZX shares. (Image: Jarden)

Thu, 09 Jun 2022

NZX’s earnings will be hurt by rising interest rates and falling stock prices, but the 30% decline in its share price since it announced its annual results in mid-February has been overdone.That’s the view of Jarden analyst Grant Lowe who says, with the shares at $1.21 on Wednesday, investors should buy NZX shares.The fall in NZX shares also reflects the $44 million capital raising announced with the results on Feb 17, just days before Russia invaded Ukraine on Feb 24 and sent global financial markets into turmoil.Lowe said between...

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