First NZ Capital raises Genesis target price, retains neutral rating

Tue, 29 Nov 2016

By Edwin Mitson Nov. 29 (BusinessDesk) - First NZ Capital has raised its target price for Genesis Energy to $1.97 from $1.85, but has retained its neutral rating on the stock. New Zealand's largest electricity and gas retailer recently set out a new strategy at an investor day, in which it said it was seeking to move from a stock being held for regular dividend payments, to one in which it would deliver both growth and dividends. As such, the new management team have ruled out capital returns such as special dividends or buybacks in the n...

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