Bell Potter lifts PT for agribusiness Elders on favourable market
23/01/2024 23:33
** Analysts at Bell Potter raise Price Target on Australia's
Elders ELD.AX to A$9.50 from A$8.35
** Brokerage sees market conditions as favourable for the
agribusiness
** Says improved rainfall patterns in key cropping areas and
stronger livestock pricing trends with continued gains in
volumes are expected to boost earnings
** Keeps "Buy" rating unchanged on stock
** Raises FY24 net profit after tax estimates by 9%
** Stock fell 25.7% in 2023
(Reporting by Rishav Chatterjee in Bengaluru)
((Rishav.Chatterjee@thomsonreuters.com;))
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