Profit-taking time on NZ’s over-valued market but firms disagree on stocks

Many market professionals are urging clients to take profits as New Zealand’s stellar equities run continues.

Some have been bold enough to name listed companies they believe are either on the way up or down and as you’d expect there is some disagreement.

The benchmark NZX50 Index is up 8.2% this year, following a 16.5% gain last year and 24.2% in 2012, driven by an economy underpinned by the Auckland housing market and the Canterbury earthquake rebuild.

 

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