Morningstar lifts fair value estimate on New Zealand's Contact Energy

Contact Energy

03/12/2025 18:48

** Morningstar raises fair value estimate on New Zealand's Contact Energy CEN.NZ by 2% to NZ$9 per share on the back of strong power generation in the four months to October and upbeat outlook

** Contact's earnings are comfortably ahead of last year and tracking well towards full-year EBITDA guidance of NZ$980 million ($565.75 million), excluding Manawa integration costs - Morningstar

** Investment research firm raises forecast for five-year EBITDA CAGR to 11.0%, from a forecast of 9.9% previously

** Three of five analysts rate the stock "buy" or higher, two "hold"; their median PT is NZ$10.85, according to data compiled by LSEG

** Stock has fallen 0.6% this year, as of last close

($1 = 1.7322 New Zealand dollars)

 (Reporting by Roshan Thomas in Bengaluru)

 ((Roshan.Thomas@thomsonreuters.com;))