These companies are undervalued, as long as they lift their financial performance, he said.
“Given the lacklustre year (in 2025), a lot of investors are hoping to see some nice gains this year but because of the election, there may be some uncertainty along the way.“
Offshore, the Japanese Nikkei 225 Index came off its high after falling 0.87% to 53,868.75 points by 6pm NZ time, and the Hong Kong Hang Seng was down 0.55% to 26,8852.31.
Across the Tasman, the S&P/ASX 200 Index bucked the trend, having gained 0.41% to 8,856.9 points.
In the United States, the S&P 500 declined 0.53% to 6,926.6 points; the Nasdaq Composite was down 1% to 23,471.75; and the Dow Jones Industrial Average was flat at 49,149.63, as a decline in bank shares weighed on markets.
Local stocks
Back home, the utilities investor Infratil was down 41c or 3.53% to $11.19. Williamson said the low volumes can push some prices around.
Market leader Fisher and Paykel Healthcare decreased 27c to $39.22; Meridian Energy declined 11c or 1.95% to $5.52; Gentrack eased 15c or 1.78% to $8.27; and Mainfreight was down $1.07 to $68.50.
Ebos Group slipped a further 22c to $26.18 as selling out of Australia continued. Ebos sat at $41.25 on Aug 21.
Ryman Healthcare, down 2c to $2.97, reported steady sales of 375, 101 new and 274 resales, during the third quarter ending December. The full-year sales guidance is unchanged at 1300-1400 units.
As expected, new sales of independent living units eased following the opening of stage four of the Nellie Melba retirement village in Melbourne in the prior quarter, and new sales of serviced apartments were strong across NZ and Australia.
Ryman said, “While sales volumes are still rebuilding, we are encouraged by clear progress in key metrics like contract conversion and cancellation rates. Looking ahead, we expect continued market variability, but our focus remains firmly on driving sales effectiveness and controlling the factors within our reach.”
Williamson said the Ryman update was similar to the previous quarter – “It’s steady as she goes and overall acceptable. The market and investors want more evidence that the company has turned the corner.”
He said Ryman’s share price was well below its net tangible assets of $4 a share.
Fellow retirement village operators Summerset declined 32c to $12.18, and Oceania Healthcare was down 1.5c to 89.5c.
Other decliners were Vista Group shedding 15c or 6.38% to $2.20; Serko falling 20c or 6.15% to $3.05; Goodman Property Trust down 3.5c or 1.77% to $1.94; and Winton Land decreasing 10c or 4.31% to $2.22.
Used car dealership 2 Cheap Cars increased 7c or 12.5% to 63c after reporting improved trading through the latter part of the third quarter and early fourth quarter, underpinned by better vehicle margins.
The company now expects second-half net profit to reach or exceed $2m, and the full year to be at least $3m.
Channel Infrastructure, up 3c to $2.91, told the market that the fuel throughput of 945 litres for the quarter ending December was the highest since the import terminal operations began in 2022.
The three-month period was also the highest for jet fuel since the first quarter of 2019, while petrol and diesel throughput was higher than in the fourth quarter of 2024, Channel said.
AFT Pharmaceuticals was up 1c to $3.60 after updating the market on its international developments, including buying the hospital operations of Cape Town-based Pharma Dynamics.AFT has signed an agreement with the UK’s Stablepharma to commercialise a new technology that will allow the storage of a range of injectables at room temperature rather than refrigerated conditions.
Stay ahead with the latest market moves, corporate updates, and economic insights by subscribing to our Business newsletter – your essential weekly round-up of all the business news you need.