Australia's Elders rises; Citi positive on second-half outlook

Citi Trends

27/05/2025 02:04

Corrects to remove an unrelated company ticker symbol, no changes to text

** Shares of Australia's Elders ELD.AX rise as much as 3.7% to A$6.39, their highest levels since May 26

** Stock of the agribusiness marks its biggest intraday pct gain since April 23

        ** Citi sees sequential upside catalysts for 2H in sustained momentum in livestock and real estate services, others

        ** Co logged HY underlying EBIT of A$64.3 million ($41.69 million) on Monday, missing market estimates

** Brokerage expects further upside to be possible from increased post-emergent crop protection demand in both regions if weather changes

** Brokerage maintains 'Buy' rating, cuts price target to A$8.60/share due to lower EPS forecasts, others

** Average rating of seven analysts "buy"; their mean PT is A$8.42 – according to data compiled by LSEG

** Stock down 13.3%, YTD

($1 = 1.5423 Australian dollars)

 (Reporting by Kumar Tanishk in Bengaluru)

 ((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk;))