AIZ – Credit Suisse rates the stock as Neutral

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Despite a downgrade to guidance at the beginning of the year, Credit Suisse notes Air New Zealand continues to trade near its recent peaks and at a premium to the airline sector.

While this appears somewhat surprising, the broker notes a net dividend yield of 8.5% is likely to underpin the share price in the near term.

Indicators suggest there is softening of booking momentum into FY20 and the broker maintains a Neutral rating. Target rises to NZ$2.70 from NZ$2.60.

Sector: Transportation.

Current Price is $2.59. Target price not assessed.

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