A Diverse Portfolio Shields Infratil from Volatility
Narrow-moat Infratil is currently trading at a slight premium to our fair value estimate, which remains at NZD 3 per share. Infratil owns a diverse portfolio, which smooths out earnings and allows strong cash flows from mature businesses to support investment in high growth businesses. NZ Bus and Trustpower face headwinds, while the long-term outlook remains positive in other areas including renewable energy developments, data centres, retirement villages, and air travel.The main concern for Tr...
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