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From all of us at Yovich & Co. we wish you a Merry Christmas and a prosperous New Year. The office will be closed from Friday the 22nd of December and will reopen on January the 8th. Below is a summary of my year in review:
First NZ Capital NZ Herald Stock Picks for 2018
The usual stock picks for next year are likely to be published on Boxing Day in The Herald. The FNZC 2017 basket of Fisher and Paykel Healthcare (FPH), Xero (XRO), Synlait (SML), Tegel (TGH) , Contact Energy (CEN) returned approximately +58% for the year.
The 2018 picks are as follows:
1) EROAD (ERD $3.20). Valuation upside is possible for US Earnings if they can continue to build traction on this part of their business. (12 Month Target Price: $3.30)
2) Tilt Renewables (TLT $2.02). “TLT's existing wind portfolio provides a stable earnings base for investors, and helps support aggressive development rates and its Australian wind build opportunity is unquestionably large.” (12 Month Target Price: $2.27)
3) Metlifecare (MET $6.03). MET has an attractively positioned village portfolio with the positives accentuated over the last three years by a very strong property market. (12 Month Target Price: $7.46)
4) Scales (SCL $4.82). Favourable apple production levels and selling conditions in 2018 as well as potential tailwind from a weaker NZD could provide valuation upside. (12 Month Target Price: $5.00)
5) NZ Refining (NZR $2.56). NZR remains well positioned for FY17 with USD earnings providing a catalyst for re-rating if the NZD falls. (12 Month Target Price: $2.95)
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