Port of Tauranga likely victim of global trade slowdown
Investors should reduce their weightings to Port of Tauranga [NZX: POT], according to Morningstar analysts.
Morningstar’s Nachiket Moghe says the share price is modestly overpriced, with the market overestimating growth prospects.
He says the outlook is for constrained growth in net profit after tax this year, driven mainly by acquisitions.
“We maintain our projections and fair value estimate of $13 a share for Port of Tauranga.”