New Zealand Professional Investment Services Firm

Forsyth Barr

We are proud to be a New Zealand owned firm, with 21 offices throughout the country and over 300 employees. We assist personal, institutional and corporate clients providing a full range of investment services.

Forsyth Barr is a foundation New Zealand Exchange firm (NZX) and accredited market participant. We have been confirmed by the Financial Markets Authority as a Qualifying Financial Entity (QFE).

Research is the cornerstone of our advice. We have one of New Zealand's leading teams of analysts. Our global affiliations ensure comprehensive research coverage of all major investment markets.

New Zealand Professional Investment Services Firm, Forsyth Barr

Thematic (Sector/Industry)

New zealand Energy / Thematic (Sector/Industry)

<ul><li>We are more positive on the long-term outlook for the electricity sector and upgrade Contact Energy (CEN) to OUTPERFORM and Meridian Energy (MEL) and Manawa Energy (MNW) to NEUTRAL.</li><li>Driving the more positive outlook of the sector is a view that wholesale electricity prices are likely to be higher than previously thought.</li><li>Factors behind the assumption change include stronger near-term electricity demand growth requiring more high cost baseload thermal generation for longer and the need to build generation projects higher up the demand stack. </li></ul>

We are more positive on the long-term outlook for the electricity sector and upgrade Contact Energy (CEN) to OUTPERFORM and Meridian Energy (MEL) and Manawa Energy (MNW) to NEUTRAL.Driving the more positive outlook of the sector is a view that wholesale electricity prices are likely to be higher than previously thought.Factors behind the assumption change include stronger near-term electricity demand growth requiring more high cost baseload thermal generation for longer and the need to build generation projects higher up the demand stack. 

Electricity Sector  - Demanding Some Attention — Sector Upgraded