New Zealand Professional Investment Services Firm, Forsyth Barr

Forsyth Barr

New Zealand Professional Investment Services Firm

We are proud to be a New Zealand owned firm, with 21 offices throughout the country and over 300 employees. We assist personal, institutional and corporate clients providing a full range of investment services.

Forsyth Barr is a foundation New Zealand Exchange firm (NZX) and accredited market participant. We have been confirmed by the Financial Markets Authority as a Qualifying Financial Entity (QFE).

Research is the cornerstone of our advice. We have one of New Zealand's leading teams of analysts. Our global affiliations ensure comprehensive research coverage of all major investment markets.

Equity Bottom-Up

<ul><li>We initiate full coverage of Turners Automotive Group (TRA) with an OUTPERFORM rating and a 12-month target price of NZ$5.30.</li><li>TRA is a high quality operator which has gained market share and grown earnings through the interest rate cycle.</li><li>We see a clear pathway to further earnings growth driven by (1) footprint expansion from new branches, (2) margin recovery and book growth in its Finance segment as the OCR falls and (3) further sales channel optimisation in its Auto Retail segment. </li></ul>

We initiate full coverage of Turners Automotive Group (TRA) with an OUTPERFORM rating and a 12-month target price of NZ$5.30.TRA is a high quality operator which has gained market share and grown earnings through the interest rate cycle.We see a clear pathway to further earnings growth driven by (1) footprint expansion from new branches, (2) margin recovery and book growth in its Finance segment as the OCR falls and (3) further sales channel optimisation in its Auto Retail segment. 

Turners Automotive Group Ltd - No Need to Shift Gears, Growth on Track

New Zealand

Turners Limited specialized personal insurance. The Company provides motor vehicle and personal financial services, and hire purchase services and investment advisory services to businesses.  Dorchester also provides immigration consultancy services assisting business migrants and families.

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