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>The Commerce Commission’s (ComCom) Input Methodology (IM) final decisions are little changed from the draft decisions for electricity and gas distribution businesses.</li><li>Minor positive changes to the regulatory weighted average cost of capital (WACC) is the main change from the draft decision, with other changes first announced in the draft decision retained.</li><li>Whilst we remain wary whether the ComCom will allow the necessary lines charge increases to fund future capex, the modest positive from a higher regulatory WACC lifts our target price +15cps (+4%) to NZ$3.70. </li></ul>

The Commerce Commission’s (ComCom) Input Methodology (IM) final decisions are little changed from the draft decisions for electricity and gas distribution businesses.Minor positive changes to the regulatory weighted average cost of capital (WACC) is the main change from the draft decision, with other changes first announced in the draft decision retained.Whilst we remain wary whether the ComCom will allow the necessary lines charge increases to fund future capex, the modest positive from a higher regulatory WACC lifts our target price +15cps (+4%) to NZ$3.70. 

Vector - Minor Methodical Modifications — IM Review

Vector Ltd

Vector - Minor Methodical Modifications — IM Review