Morningstar - Infratil Ltd. (IFT) Infratil Investor Day Doesnt Shift Our View; Stock Looks Fairly Valued

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Morningstar

Adrian Atkins

EUR 100.00 For Business Accounts Only

Infratil Investor Day Doesn't Shift Our View; Stock Looks Fairly Valued

Infratil used its investor day to sell the merits of its portfolio and address what it sees as a loss of investor patience. We're not overly concerned by stagnant earnings as high levels of capital expenditure will translate to stronger earnings over the medium term. Our opinion remains unchanged, that Infratil owns a portfolio of mostly good quality assets--warranting a narrow economic moat rating for the firm. However, we don't think it's cheap. Our NZD 3 per share fair value estimate is uncha...

13/04/2018 14 EN

Underlying

Infratil Ltd.

Infratil and its subsidiaries own and operate infrastructure and utility businesses and investments in New Zealand and Australia. Co. and its subsidiaries operate in six business segments: TrustPower, Wellington Airport, NZ Bus, Infratil Energy Australia, Infratil Airports Europe and Other. Trust Power is Co.'s renewable generation investment; Wellington International Airport is Co.'s Wellington Airport Investment; NZ Bus is Co.'s transportation investment; and Infratil Energy Australia (including Perth Energy) is Co.'s non renewable generation investment. The principal investments in the Other segment are Co.'s interests in Z Energy, Metlifecare, RetireAustralia and ASIP.

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NZIFTE0003S3 NZX New Zealand

Provider

Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

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Analysts

Adrian Atkins

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Morningstar | Ceased Coverage on Infratil

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Infratil Investor Day Doesn't Shift Our View; Stock Looks Fairly Valued

Infratil Limited: 1 director

With a more favourable environment, INFRATIL improves to Slightly Positive

Morningstar | Ceased Coverage on Infratil

Business as Usual for No-Moat Lonza; Specialty Ingredients Carve-Out on Track for 2020

Astra Posts Solid 2Q, Driven by Strong Cancer Drug Sales and Moving Away From One-Time Divestments

Astra Posts Solid 2Q, Driven by Strong Cancer Drug Sales and Moving Away From One-Time Divestments

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