Hallenstein, worst-performing stock on NZX 50 this year, raised to buy from hold at Craigs

Tue, 25 Feb 2014

By Tina Morrison Feb 26 (BusinessDesk) – Hallenstein Glasson Holdings, the worst performer on New Zealand’s benchmark NZX 50 Index this year, was upgraded to ‘buy’ from ‘hold’ by brokerage Craigs Investment Partners, which said weakness in the stock has been overplayed. Shares in Hallenstein have dropped 21 percent so far this year, lagging a 4.9 percent gain in the benchmark index, and last changed hands at $3.05. In a note published yesterday, Craigs raised its 12-month target price on the stock to $3.84 from $3.51. Hallenstein, which oper...

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