Port of Tauranga outlook favourable but shares have baked in too much growth, rated 'sell'

Wed, 13 Jun 2018

By Tina Morrison June 13 (BusinessDesk) - Port of Tauranga is a high-quality company lauded as the most productive and efficient port in Australasia but its shares are too expensive, according to Morningstar which recommends investors sell the stock. The port company's shares recently traded at $5.13, a significant premium to Morningstar's $3.80 fair value estimate. The research house has a one-star rating on the stock, which indicates the market is pricing in an excessively optimistic outlook and encourages investors to strongly consider...

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