Chorus may need to raise $400m at 30% discount – analyst
Duncan Bridgeman Wed, 04 Dec 2013
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