Would be a BIG surprise to the market . Only one economist picking it .
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big drop yesterday after div , must been the panic merchants baling on the slightest drop
Headwinds in the domestic and global economy are likely to see the central bank cut rates in May and August, according to the pricing of wholesale interest rate markets. Gloomy business confidence figures this week further add to the expectation of an imminent OCR cut, economists said.
https://www.goodreturns.co.nz/articl...-asb-move.html
Kiwibank's economists see a fairly strong chance that the Official Cash Rate will go as low as 0.75% next year, while they're predicting that the Kiwi dollar, "our beautiful bird", is about to be "broken".
https://www.interest.co.nz/bonds/989...ntinue-cutting
get your income while you can
Hmmmm...might pay to get a few overseas shares to benefit from a falling Kiwi too.
We're well positioned with our gentailier shares for sure, especially GNE !
Morningstar has a valuation of $2.20 (reduce) on GNE with the main reason being "..At current prices, Genesis is overvalued. Our main concern is that 25%-30% of EBITDA comes from Kupe, which has volatile earnings and will deplete over the next decade or so...."
All power companies look a bit overpriced to me but that doesn't mean they won't go higher still.
Moaning star...right up there with share clarity lol
I agree with Morningstar re the stock being overvalued, probably worth around $2.30-$2.40.