Australia's Costa Group recoups losses fuelled by weak 2023 forecast

Costa group

12/12/2023 24:35

** Shares of horticulture firm Costa Group  CGC.AX  rise as
much as 3.2% to A$3.055, marking their biggest intraday pct jump
since Sept. 22
    ** CGC top gainer in the ASX 200 benchmark index  .AXJO 
    ** CGC fell 3.9% on Monday after the firm forecast weak CY23
EBITDA-S vs CY22
    ** Jefferies says factors leading to outlook downgrade are
"transitory" with no reason to assume continuance into FY24
    ** CGC up 7.6% this year, as of last close

 (Reporting by Sameer Manekar in Bengaluru)
 ((Sameer.Manekar@thomsonreuters.com; Twitter: https://twitter.com/sameer_manekar))