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

Fri, 19 Jan 2024

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...

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