Channel rated as good investment as oil companies sell down

Channel rated as good investment as oil companies sell down
Analysts said Mobil’s sell down had created an overhang and a buying opportunity in the defensive yield space. (Image: Channel)
Ian Llewellyn
Channel Infrastructure has had its share rating upgraded by Forsyth Barr with the prospect of a further sell down in shares from its oil companies shareholders selling down their stake.The analysts said the fuels infrastructure company represented “very good value, particularly relative to other defensive yield and infrastructure names”.ForBarr said since Mobil Oil NZ sold out of Channel (CHI) in mid-December 2023, a share performance gap of about 10% has opened up between CHI and its peers, providing a buying opportunity. In additi...

More Markets

Spark downgrade ‘dents’ investor confidence: analyst
Markets

Spark downgrade ‘dents’ investor confidence: analyst

ForBarr analyst says Spark 'basically never downgrades'.

Ben Moore 12:20pm
Tourism Holdings shares tank after guidance cut
Markets

Tourism Holdings shares tank after guidance cut

Tourism Holdings lowered net profit guidance for the current financial year by a third.

Westpac NZ's first-half net profit lifts 11%
Markets

Westpac NZ's first-half net profit lifts 11%

Bank has largely recovered after last year's floods and Cyclone Gabrielle. 

Auckland airport launches $200 million bond offer
Markets

Auckland airport launches $200 million bond offer

Auckland International Airport is offering up to $200 million of six-and-a-half-year fixed-rate bonds to retail and institutional investors. It can accept up to $50m in oversubscriptions.The issue price is $1.00 per bond, and the minimum principal and minimum holding amounts are...