Sanford value lurks below the surface

Thu, 01 Oct 2020

Covid-related disruption to global foodservice channels for seafood and cheap prices has scaled back Sanford's share price to the point where investors are effectively getting its aquaculture assets for free, investment firm Forsyth Barr says.Research analyst Guy Hooper rates fishing group Sanford an 'outperform' and said current pricing almost reflected the book value of quota and licences alone at $5.21 a share.The stock recently traded at $5.72, well below Hooper's estimate closer to $8.37 a share, which is based on a mixture...

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