Ahem, cough, cough...because we all know Forbar's valuation are the gold standard...What time is it ?, yes that's right you guessed it, Time for a Tui :)
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Ahem, cough, cough...because we all know Forbar's valuation are the gold standard...What time is it ?, yes that's right you guessed it, Time for a Tui :)
LOL, who would take much notice of Forsyth and Barr's analysts "valuation"
In 2017 their top five picks (published in national papers) included....
Evolve Education (which they were joint lead managers of the IPO, with GS)
CBL Insurance (which they were joint lead managers of the IPO with UBS)
I remember, years ago, sum laughed at the prospect that the ol' dog Arvida would have the same (or even close to the) share price as heartland... suddenly not that far fetched anymore.
Arvida only covered by Forsyth Barr so we don't know if their estimate is out of line with the market because no other analyst bothers with them !
On the other hand SUM warrants reasonable analyst coverage and the consensus is outperform with a price target of $6.91 https://www.marketscreener.com/SUMME...438/consensus/. On that basis Forbar at 19 cents too optimistic so you might get to $1.55 in 12 months time if you're lucky :)
I am sure you would have noticed I didn't translate this into percentage terms :p
https://www.nzx.com/announcements/342378
Now this is smart... that Queenstown purchase sounding and looking better each and every day.
And the share price, currently at $1.48, looking cheaper and cheaper
$1.50.. maybe $1.70 odd valuation is correct...
$1.52 and counting... wow less than 10 cents away from Heartland... when I proposed such a thing a few years ago (that ARV would get close, and possibly exceed heartland's share price) I was (figuratively speaking) laughed out of the room... how things have changed.
The interesting thing with this share is it very slowly moves up but when others are being battered it tends to stand its ground. I was so close to selling out about 6 months ago but found some other money to tip into SUM and then the ARV rights issue came along so dug out some more money and both shares have taken off :)