Energy stocks dip as analysts say prices are based on heroic assumptions

Electricity company shares could be in for a shock says analysts. (Image: NZME)

Mon, 23 Oct 2023

Share prices in four of the five major electricity companies dipped on Friday following a Forsyth Barr analysis, which said the sector was in for a shock as it was overpriced.Meridian slipped 23 cents to $4.85, Mercury was down 19.5c to $5.85, Contact 7c to $7.88, and Manawa 12c to $4.35, after all but Contact were given 'underperform' ratings by the Forbarr analysts.Genesis was up 2c to $2,44 after it (and Contact) were marked as preferred picks in the sector, even if it was with just a 'neutral' rating.The analysis said the el...

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