Australia's Incitec Pivot extends losses on lower production outlook; Macquarie lowers PT

Dyno Nobel

11/02/2025 02:26

** Shares of Incitec Pivot  IPL.AX  fall 1.2% to A$2.905
    ** Shares of the fertilizer producer mark their worst
intraday session since February 3
    ** Co said on Monday that FY production at its Phosphate
Hill Plant in Queensland will likely be impacted by sulphuric
acid supply interruptions and weather events, shares closed 1%
lower on the day
    ** Macquarie lowers price target (PT) to A$3.09 from A$3.15,
maintains "neutral" on stock
    ** Brokerage accounts for lower FY25 earnings outlook due to
Phosphate Hill plant production outlook
    ** Five of 12 analysts rate the stock "buy" or higher, seven
"hold"; their median PT is A$3.20 – according to data compiled
by LSEG
    ** Incitec stock rose 19.5% in 2024

 (Reporting by Nichiket Sunil in Bengaluru)
 ((Nichiket.Sunil@thomsonreuters.com;))