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

Equity Bottom-Up

<ul><li>Genesis Energy (GNE) has confirmed the expected FY25 earnings decline due to the failure of the KS-9 production well, and provided an indication of the impact on reserves.</li><li>Whilst FY25 earnings are better than expected, reserves are going to be lower than previously forecast.</li><li>With these factors largely offsetting themselves, our target price and OUTPERFORM rating are unchanged. </li></ul>

Genesis Energy (GNE) has confirmed the expected FY25 earnings decline due to the failure of the KS-9 production well, and provided an indication of the impact on reserves.Whilst FY25 earnings are better than expected, reserves are going to be lower than previously forecast.With these factors largely offsetting themselves, our target price and OUTPERFORM rating are unchanged. 

Genesis Energy - Confirming the Level of Kupe Pain