Australia's Elders rises as Macquarie ups PT, sees earnings growth

Elders

21/05/2024 03:08

** Shares of Australia's Elders  ELD.AX  rise as much as
2.4% to A$8.5
    ** Analysts at Macquarie lift PT on the agribusiness to
A$8.35 from A$8.25
    ** Brokerage expects co's earnings to recover in the second
half underpinned by normalisation in seasonal conditions
    ** See strong potential earnings growth in FY25 but 2H24
needs to be delivered first - brokerage
    ** Macquarie lowers FY24 earnings estimates by 3% on co
reflecting higher interest and lease costs, downgrades to
"neutral"
    ** Stock has risen 10.2% this year, as of last close 

 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))