AIR - Air NZ.

[winner69]

Roger - Aussie companies generally trade at higher multiples than NZ companies (in same sector)

I know you don't believe it but the ASX is a much bigger and more vibrant exchange with greater number of participants etc etc. with greater liquidity ........and though AIR is also listed on the ASX its a sad fact that QAN has the 'home advantage' eh

[Beagle]

Wonderful "efficient" market we have eh Winner, both flying in similar skies...

[couta1]

Bit of Air coming out of the balloon today, people paying $3 plus are either very balsy or suffering from Amnesia.

[bull....]

Bit of Air coming out of the balloon today, people paying $3 plus are either very balsy or suffering from Amnesia.

usually the pros need a day to digest the info - so the true reaction today? credit suess downgrade?

[RupertBear]

Bit of Air coming out of the balloon today, people paying $3 plus are either very balsy or suffering from Amnesia.

At $3 I would be take the money and run!

[BeeBop]

I took the money and ran yesterday. Maybe worth more, but it cycles and I have a better home for the money (going conservative for the time being)....maybe will buy and hold at another time.

[couta1]

At $3 I would be take the money and run!

Come on RB, buy a parcel NOW for a trade at $3, you know you want to.

[RupertBear]

Come on RB, buy a parcel NOW for a trade at $3, you know you want to.

Wish I had a parcel to SELL now Couta but I timed it wrong and got out at $2.30

[winner69]

Guru analysts FNZC - winner of many awards - well respected - say AIR worth only $2.50

FIRST NZ AIR NZ TARGET PRICE 19%, LOWERS RATING TO 'UNDERPERFORM

Friday 2nd June 2017

Text too small?
First NZ Capital lifted its 12-month target price on Air New Zealand to $2.50 from $2.10 but lowered its rating to 'underperform' from 'neutral' based on its updated valuation and current share price.

The shares last traded down 2.3 percent at $2.95 but have gained 38 percent so far this year. On Thursday the company said it now expects its 2017 financial year earnings before taxation to exceed $525 million versus previous guidance of $475 million to $525 million.

First NZ Capital lifted its passenger booking total or PBT estimates by 10.5 percent in FY17, 31.4 percent in FY18 and 30 percent in FY19, reflecting the latest operating statistics, revised fuel cost assumptions, improved cargo revenue, modestly lower depreciation, the company's latest update and its operating leverage, said research analyst Andrew Steele in a note. He also said FNZC now assumes that Air New Zealand's pre-tax return on invested capital or ROIC reverts to 14.5 percent in the long term, versus its prior assumption of 14.0 percent.

However, despite the upgrades to its PBT forecasts "we estimate that the current share price of around NZ$3.00 implies a sustained through-cycle pre-tax ROIC of 16.5 percent," he said. Steele notes this is 200 basis points ahead of FNZC's revised long-run assumption and 150 bps about the company's targeted return.

Steele said the key risks to the target price include material changes in the competitivhttp://www.sharechat.co.nz/article/3fb4a17e/first-nz-air-nz-target-price-19-lowers-rating-to-underperform.htmle landscape, fuel costs as well as underlying demand.

http://www.sharechat.co.nz/article/3...erperform.html

[Beagle]

Last N.Z. have consistently done their clients no favors with AIR. They have consistently had the lowest valuation on AIR for several years now.
Clients who believed their valuation model were told as recently as yesterday that a fair price for AIR in 12 months time was $2.10. Obviously that's a complete joke. The guesswork, (yes that is a deliberate choice of term), underpinning their valuation model is systemically flawed in my opinion.
N.Z. analysts generally have consistently been behind the curve with AIR...investors are far far better to listen to management and follow the monthly stat's and work their own numbers and that's what I'll continue to do. Some of their analysts are very good and have won awards, their analyst covering AIR is without any merit, in my opinion.