First NZ lifts Fonterra Fund to neutral; ComCom reiterates doubts on milk price asset beta

Thu, 13 Sep 2018

By Rebecca Howard Sept. 14 (BusinessDesk) - First New Zealand Capital lifted its rating on the Fonterra Shareholders' Fund to 'neutral' from 'underperform' and said the first signs of a change in approach look encouraging. Fonterra's full-year loss was disappointing but "with the recent changes in board chair (with annual election of three directors coming up) and CEO (interim) it was encouraging to see FSF take no time in fronting up and acknowledging the issues," analyst Arie Dekker said. On Thursday, the dairy giant said it is takin...

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