ForBarr raises Hallenstein Glasson target price 20% after trading update

"Roll-out assumptions in Australia is the primary driver of our c.+20% valuation uplift," the analysts said. (Image: Hallenstein Glasson 2024 annual report)

Gregor Thompson

Wed, 11 Dec 2024

Forsyth Barr analysts have raised their Hallenstein Glasson target price by 20% after a trading update.Paul Koraua and Rohan Koreman-Smit's "Green and Gold Pastures" note was released on Wednesday, a day after Hallenstein Glasson’s annual general meeting (AGM) in Christchurch. Based on a sales update and chief executive Chris Kinraid's commentary, the analysts raised their 12-month target price by 20% to $10, a 33.5% premium on the price at publication.After rallying 4.41% on Tuesday, Hallenstein Glasson shares...

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