Seeka shares drop as First NZ begins coverage with 'neutral' rating

Thu, 05 Jul 2018

By Margreet Dietz July 6 (BusinessDesk) - Broking firm First NZ Capital began coverage of Seeka, New Zealand's top grower of kiwifruit, with a ‘neutral’ recommendation, as a positive earnings outlook offsets key risks including the company’s high debt, horticultural factors such as weather, pests and disease as well as performance by the nation's sole kiwifruit exporter Zespri Group and access to key export markets. The stock fell 2.3 percent to $6.50 in Friday morning trading, cutting its gain for the past year to 32 percent. First N...

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