Contact Energy Ltd
CEN: XNZE (NZL)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
NZD 1.20 | Nstjpb | Gcmvwwt |
Contact Energy: Tracking Well in Fiscal 2024, Apart from Tauhara Delays
We downgrade our fiscal 2024 EBITDA forecast for narrow-moat-rated Contact Energy by 8% to NZD 619 million because of delays to the commissioning of the Tauhara geothermal power station development, partly offset by a strong operating performance in the financial year to date. Long-term forecasts are largely unchanged, and we maintain our NZD 8.20 fair value estimate. At current prices, the stock is fairly valued.