Heartland Bank dominates market
Heartland Group led the market higher with the S&P/NZX 50 Index rising 11.78 points, or 0.1%, to 12,562.17. Within the index, 11 stocks fell, 36 rose and three were unchanged. Turnover was light at $91.9 million.
Shares in Heartland Group Holdings jumped 6.1% to $2.09. Last week, the lending company raised its earnings guidance to between $85m and $86m.
Jarden analysts gave the stock a ‘buy’ rating with a target price of $2.30 predicting ongoing growth for many years to come.
“With the Australia and NZ economies in relatively strong shape, we take a more positive view on the near term but continue to forecast a moderation in growth rates from financial year 2026,” they said.
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