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03-12-2014, 10:47 AM
#1291
AFR hidden in some other story, banks are pitching for a deal both nz super and infratil shares have been released from escrow now
one step ahead of the herd
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11-12-2014, 08:09 AM
#1292
there stake in z is still being pitched for - anyone will sell if the price is right
one step ahead of the herd
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16-12-2014, 11:55 AM
#1293
Green in a sea of red plus great dividend.I'm happy as long as this post doesn't confound the trend like all of my positive post's seem to !
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17-12-2014, 07:18 AM
#1294
Forsyth top 2015 stock picks:
Our top picks for 2015, focus on proven performers and comprise a mix of growth
and yield. Stocks preferred are:
Infratil (IFT): We are comfortable that IFT’s portfolio of assets have upside
potential. Recycling of capital provides upside optionality.
Mainfreight (MFT): Cyclical and structural growth as MFT expands its
network. US improvement should more than offset Australian risks.
Ryman Healthcare (RYM): Proven performer with Australia viewed as
providing the next step change in earnings potential.
Sky Network TV (SKT): Competitive and regulatory risks overstated while
underlying free cash flows are not adequately reflected in the share price
Tower Limited (TWR): Now refocused as a niche general insurer. Premium
growth expected given the level of under-insurance the shift to sum-insured
has created. Surplus capital provides potential for M&A.
IFT:12 month price target $3.2
Bonus and Buyback
Our rating is OUTPERFORM. We believe there is further room for the
discount to NAV to close up, and the planned buyback will help in a modest
way. IFT’s portfolio of assets is generally performing well, with good upside
in most. In addition, IFT’s goal of increasing dividends at more than 10%
per annum in the current market we believe IFT provides good defensive
characteristics.
Demonstration of transactional capability
IFT has demonstrated over the past few years its ability to transact well, both on
the buy side and the sell side. It has bought and sold ZEL and most recently sold
its Lumo investment for a good profit. Whilst the current environment makes it
difficult to purchase assets at a discount, it means there is potential for IFT to
return more cash from its Lumo sale to investors.
TPW IFT’s driver
TPW is IFT’s largest asset and is almost 50% of IFT’s portfolio value. Of the
electricity companies, TPW is the cheapest, as well as having good upside
opportunities in Australia (subject to a reasonable Renewable Energy Target
outcome) and has a compelling retail offer in the market. Like the other electricity
stocks, we also believe TPW has room to materially lift its dividend (once it has
repaid some debt) – although the dividend increase could be deferred if there is a
favourable RET outcome resulting in further Australian wind farm investment.
ZEL providing some value lift
ZEL is IFT’s third largest investment by value (slightly smaller than WIAL) of IFT’s
portfolio value. It is performing well at present and has good upside to earnings
and valuation if it is able to maintain current margins. Whilst there is a notional
regulatory ceiling to how far downstream oil industry margins can go, we do not
appear to have reached that point as yet.
Targeting >10% per annum dividend growth
IFT has publicly stated it has a goal to increase dividends by at least 10% per
annum over the next few years. That goal means IFT is likely to have amongst
the highest dividend growth rates in the market and with investors currently
seeking yield, should help to underpin its share price.
Defensive characteristics in a fully valued market
We believe IFT should hold up well if the market drifts backwards in 2015. IFT is
trading at undemanding levels relative to its underlying asset value and therefore
has the capacity to further close its discount to value. It also offers investors a fast
growing dividend and is underpinned by some solid defensive infrastructure
assets.
Last edited by Master98; 17-12-2014 at 07:45 AM.
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19-12-2014, 11:57 AM
#1295
Finally back to $3.00 level again, all looks good
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29-12-2014, 11:12 AM
#1296
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29-12-2014, 11:47 AM
#1297
Originally Posted by macduffy
Yep, it certainly looks like Infratil believes in the sector ... and so far they got it more often right than wrong. Good sign as well to see the NZ Superfund involved. Could imagine that this gives the whole retirement sector in 2015 another push upwards.
----
"Prediction is very difficult, especially about the future" (Niels Bohr)
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29-12-2014, 12:32 PM
#1298
Certainly confirms the retirement sector is a great sector to be invested in,and agree their involvement will give the whole sector a boost.
Huge tailwind of an ageing population in Australia and NZ means great opportunities for companies in this sector.
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14-01-2015, 10:14 AM
#1299
Member
Some one just spent over 22 mils on IFT this morning.
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16-01-2015, 10:45 AM
#1300
ACC now holds 11.3% IFT shares, bought from Utilico.
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