New Zealand's Gentrack rises to two-week high as Jefferies hikes PT

Gentrack

19/05/2026 02:26

Updates

** Shares of Gentrack Group GTK.NZ rise as much as 9.6% to NZ$4.33 in early trade, their highest point since May 5

** Jefferies raises PT on the utilities provider by 5.5% to NZ$4.4

** Brokerage upgrades EBITDA estimates by average 5% over FY26-28, driven by lower operating expenditure assumptions following 1H26 results

** Says company's 1H26 net profit after tax was ahead of its estimates and VA consensus

** Jefferies, however, remains cautious on delayed delivery of customer wins and no further contract wins, reiterates "hold" rating on stock

** Five of 10 analysts rate the stock "buy", four "hold" and one "sell"; median PT is NZ$6.12 - data compiled by LSEG

** Shares down 48.6% YTD, including the day's moves

 (Reporting by Aamir Sheik Khalid and Nikita Maria Jino in Bengaluru)

 ((Aamir.SheikKhalid@thomsonreuters.com))