Forsyth Barr upgrades Tower stock to Outperform at NZD 2.60 target
Published on 10/25/2026 at 02:03 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSAnalyst view and earnings calendar
- Forsyth Barr upgraded Tower to Outperform and set a NZD 2.60 target on October 8, 2026.
- Tower lifted underlying NPAT guidance to NZD 69.00-79.00 million for fiscal year 2026.
- Tower stock last closed at NZD 2.09 on October 23, 2026.
Tower Limited (ISIN NZTWRE0011S2) was upgraded from Neutral to Outperform by Forsyth Barr, which set a NZD 2.60 price target on October 8, 2026, as reported by MT Newswires. The analyst action followed Tower's revised fiscal year 2026 earnings outlook and gives investors a clear valuation reference.
Target rises above the latest price
The NZD 2.60 target stands 24.40 percent above Tower's NZD 2.09 closing price on October 23, 2026. That comparison is separate from the company's operating outlook because the target is an analyst assessment rather than reported earnings.
What the guidance means for earnings
On October 6, 2026, Tower raised fiscal year 2026 underlying net profit after tax guidance to NZD 69.00 million to NZD 79.00 million from NZD 55.00 million to NZD 65.00 million, according to NZX. The company said preliminary, unaudited results reflected large-event claims of about NZD 25.00 million against a NZD 45.00 million allowance. Customer numbers rose 8.00 percent to 345,000, while gross written premium increased 3.00 percent.
Three dates reshape the setup
On May 25, 2026, Tower's first-half results showed revenue of NZD 296.60 million, down 3.40 percent from the prior-year period, according to Simply Wall St. On October 6, 2026, the insurer lifted fiscal year 2026 underlying NPAT guidance to NZD 69.00 million to NZD 79.00 million. On October 8, 2026, Forsyth Barr upgraded the stock to Outperform with a NZD 2.60 target.
When are the next results?
Tower will release its full fiscal year 2026 results on November 26, 2026, for the year ended September 30, 2026, according to NZX. The company has also scheduled an investor briefing for the same date.
Stock stays below the analyst target
Tower's operating case now combines higher preliminary profit guidance with a later full-year report date, while the analyst target remains above the latest market close. On the NZX, Tower closed at NZD 2.09 on October 23, 2026.
Tower Limited at a glance
- Company: Tower Limited
- ISIN: NZTWRE0011S2
- Ticker: TWR
- Primary exchange: NZX
- Market capitalization: NZD 717.7 million (as of October 23, 2026)
- 52-week range: NZD 1.79-2.17 (as of October 23, 2026)
- Sector / Industry: Financial Services / Property and Casualty Insurance
Market context: Latest market reports.
