Comment / Analysis: Mainfreight on the grill

ID 325668171 © Greerascris | Dreamstime.com

09/10/2024

’All’s well that ends where it all started’ I argued in my 26 July coverage of Mainfreight (MFT), New Zealand’s bijou crown jewel in transport and logistics.

And since then, the stock has added… NZ$1 (US$0.62) to its NZ$72 level (US$43.8) in just over two months.

From a value perspective, suggesting that MFT is dead wood isn’t far-fetched. Even more so, in fact, after running my DCF calculator at the end of the… grilling.

No M&A premium. No acquisitions. Shareholder-friendly but only to ...

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chris dunphy
October 11, 2024 at 9:08 am
A good analysis. MFT has performed well over many years but looks to be running out of puff in all but Australia where they have been a key recipient of the Toll implosion. Add to that the succession issue ( Braid Jnr running the Americas) and zero appetite for M&A and you get a moribund stock.

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- Alessandro Pasetti
  October 11, 2024 at 1:10 pm
  Thanks Chris, great feedback as usual, very much appreciated.
  
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