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An analyst at Morningstar predicts troubled utility Chorus [NZX: CNU] will need to raise $400 million in fiscal 2014 as the company juggles capital expenditure commitments with rapidly diminishing profits.
Sydney-based analyst Peter Rae has slashed his fair value estimate of Chorus stock
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Duncan Bridgeman
Wed, 04 Dec 2013
Wed, 04 Dec 2013
© All content copyright NBR. Do not reproduce in any form without permission, even if you have a paid subscription.
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Chorus may need to raise $400m at 30% discount – analyst
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