Z Energy a buy as fuels sector competition sags, Deutsche Bank says

Tue, 01 Oct 2013

Oct 2 (BusinessDesk) – Z Energy is on track to beat its pre-float prospectus earnings forecasts and is rated a “buy” up to $4.21 a share, says Deutsche Bank, a lead manager in the mid-August Z listing whose research is now public after a statutory “black-out” period. Z shares closed yesterday at $3.81, compared with the issue price at listing on Aug 19 of $3.50. Brokerage Forsyth Barr, which was also a lead manager in the Z listing, rated the stock a “hold” with a 12-month target price of $3.80 in a report last week, saying the shares are full...

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