Analysts downgrade Channel Infrastructure

Channel's share price has outperformed comparable stocks. (Image: Channel)

Fri, 21 Jun 2024

Despite being bullish about Channel Infrastructure’s long-term prospects, Forsyth Barr analysts have downgraded the company from outperform to neutral.Channel’s share price dropped on Wednesday after BP New Zealand sold its stake in the former refinery turned fuel import terminal at Marsden Point, for $46 million.BP NZ, which trades as bp, entered a block trade agreement with Craigs Investment Partners to sell its entire 8.336% stake at $1.46 per share.Channel was trading at $1.57 on the Tuesday before the announcement and at close...

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