Forsyth Barr shifts Turners Automotive to neutral from outperform

Forsyth Barr shifts Turners Automotive to neutral from outperform
Forsyth Barr analysts say Turners will likely need “meaningful earnings upgrades if it is to continue its material outperformance”. (Image: Turners)
Rebecca Howard
Forsyth Barr analysts lowered their rating on Turners Automotive Group to neutral from outperform as the “risk-reward picture now appears more balanced”.The company’s valuation is 14.4 times the 12-month forward earnings per share, which is more than two standard deviations above its long-run average of around 10 times, said analysts James Lindsay and Will Twiss.The company has delivered five consecutive years of record earnings and +85% outperformance (in total return) versus the NZX 50 over the past 12 months.It reported a n...

More Markets

NZX falls as Synlait and Mainfreight take hits
Markets Market Close

NZX falls as Synlait and Mainfreight take hits

Market reacts strongly to news of "challenges" at Synlait's Dunsandel plant.

Tom Raynel 30 Jul 2025
'Slow and disappointing' start to the year for Mainfreight
Markets

'Slow and disappointing' start to the year for Mainfreight

The freight and logistics firm said profits were down across its three main divisions.

Staff reporters 30 Jul 2025
Ryman toils to rebuild shareholder confidence
Property

Ryman toils to rebuild shareholder confidence

"When is the total board going to resign?" asked one shareholder.

Gregor Thompson 30 Jul 2025
Synlait shares slump 11% even as outlook brightens
Primary Sector

Synlait shares slump 11% even as outlook brightens

The market is disappointed about manufacturing challenges. 

Rebecca Howard 30 Jul 2025