Infratil stock undervalued after Z selldown, Wellington Airport worth more, broker says

Sun, 06 Oct 2013

Oct. 7 (BusinessDesk) – Infratil stock is about 20 percent undervalued given the performance of its investment in Z Energy, the likely avoidance of regulation for Wellington International Airport and a foreign exchange gain, according to First NZ Capital. The brokerage resumed coverage of Infratil with an ‘outperform’ rating following the end of a research restriction due to its role in the sale of 60 percent of Z Energy for Infratil and the New Zealand Superannuation Fund in August. It has a 12-month target price of $3, compared to its recen...

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