Morningstar backs NZ's Contact Energy growth outlook, shares rise
11/08/2026 24:26
BUZZ-Morningstar backs NZ's Contact Energy growth outlook, shares rise ** Shares of New Zealand's Contact Energy CEN.NZ rise as much as 1.8% to NZ$9.130
** Morningstar says energy retailer's FY26 EBITDA beat guidance by 7% and brokerage estimates by 4%
** Adds, strong earnings as a result of nonrecurring benefits from Manawa acquisition
** Brokerage, however, downgrades 2028 and 2029 forecasts "slightly", citing weaker electricity futures prices
** Morningstar maintains NZ$9.20 per share fair value estimate, says is fairly valued
** Three of five analysts rate the stock "buy" or higher, two "hold"; their median PT is NZ$10.67 – LSEG data
** Stock down 2.1% YTD, including session moves
(Reporting by Shravya Marakini in Bengaluru)
Recent news on Contact Energy
See all newsBrief: Contact Energy Considers Green Capital Bond Offer
Brief: Contact Energy Reports Customer Business Mass Market Electricity And Gas Sales Of 579GWH In July
Morningstar backs NZ's Contact Energy growth outlook, shares rise
Brief: Contact Energy Ltd Says Contact, CDC Partner To Explore Data Centre Development
Brief: Contact Energy Posts FY Reported EBITDAF Of NZ$1,011 Mln