Not at this price, I think it is worth $3 IMHO but that is because
1) I take a different view of the POO rise and its potential LT impact on AIZ,
2) AIZ's hedging of the POO reduces the downside implicit in the AIZ SP,
3) depreciation of the NZD in the future is more likely than not increasing inward tourism, business and AIZ profit,
4) tourism into/ out of NZ on the increase,
5) Prime Minister Key's days at the top being numbered, giving rise to increased sentiment
6) dairy prices going up increases AIZ domestic movements,
7) NZ macroeconomic factors, favorable to business/ higher class loadshares,
8) future entrants such as VAH are struggling and unable/inability to compete by loadshare,
9) QAN's domestic/ NZ developments including Jetstar, and
10) other miscellaneous factors such as flying planes of milk to the P.R.C. may develop etc
rather than the current view of the rest of the market.
U sell if u want to but I am for buying IMHO but pls DYOR.
AIZ Price at posting:
$1.71 Sentiment: Buy Disclosure: Held
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