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Morningstar upbeat on NZ's Genesis Energy's financial health

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** Analysts at Morningstar expect Genesis Energy GNE.NZ to remain in sound financial health despite the new investment plan of NZ$1.1 bln ($677.82 mln) in new renewable generation and storage assets by 2030

** Brokerage lifts fair value estimate to NZ$2.70/shr

** Morningstar expects that co's profitability and margins can increase during periods of low rainfall and high electricity prices, as excess generation is sold at higher prices in these condiditions

** "During the next five years, we forecast earnings before interest, tax, depreciation and amortisation (EBITDA) grows 2% each year on average" - Morningstar

** Three of five analysts rate stock "Buy" or higher, one rates "Hold" and one rates "Sell"; their median PT is NZ$2.60 - LSEG data

** Stock down 8.1% YTD as of last close

($1 = 1.6228 New Zealand dollars)

Reporting by Shivangi Lahiri in Bengaluru


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