New Zealand Professional Investment Services Firm

Forsyth Barr

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.

New Zealand Professional Investment Services Firm, Forsyth Barr

Equity Bottom-Up

<ul><li>We walk away from Infratil's (IFT) Longroad investor day with three main takeaways. (1) Its target to deliver ~1.5GW annually over the next four to five years seems highly credible.</li><li>Pipeline for 2024 and 2025 is ahead of target and 1.5GW seems more of a choice not to overextend than the stretch target we initially viewed it as.</li><li>(2) On top of the base investment tax credit, Longroad is likely to access a meaningful level of additional credits, which could be worth up to high, single digits, additional IRRs on some projects. </li></ul>

We walk away from Infratil's (IFT) Longroad investor day with three main takeaways. (1) Its target to deliver ~1.5GW annually over the next four to five years seems highly credible.Pipeline for 2024 and 2025 is ahead of target and 1.5GW seems more of a choice not to overextend than the stretch target we initially viewed it as.(2) On top of the base investment tax credit, Longroad is likely to access a meaningful level of additional credits, which could be worth up to high, single digits, additional IRRs on some projects. 

Infratil - The Longroad to Value Realisation Is Heating Up

Infratil Ltd

Infratil - The Longroad to Value Realisation Is Heating Up