[5 May/ New Zealand Herald]

Comvita shares decreased 9.4 percent due to investment analysts cutting their valuation for the mānuka honey products company. The shares fell as low as $6.07 in early trading last Friday, a record low since January 23, and recently decreased to $6.25 after Deutsche Bank decreased its stock price target to $7.05 from a previous target of $9. This news comes concurrently with the discovery of myrtle rust, a fungal disease that can damage plants including mānuka. Comvita cut its profit guidance in April due to poor honey harvest and aggressive competition in China’s informal daigou channels.