The bulls and the bears among energy stocks

Contact is the analysts' sweetheart stock. (Image: NZME)

Tue, 09 Jul 2024

Analysts are bullish on most energy stocks in the short term, partly due to price increases.Forsyth Barr noted that June 2024 was notable for the first dip in electricity demand in eight months.This drop is not widely considered a trend away from a pattern of growing demand after years of stagnancy.It was in part due to the Tiwai Point aluminium smelter reducing demand at Meridian's request as hydro lake levels fell.A strong operating monthThe 4% month-on-month fall could also be due to May being colder than usual and two public holidays in...

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