Jefferies initiates coverage on Aussie agribusiness Elders with 'hold'
17/01/2024 19:35
** Analysts at Jefferies begin coverage on Australia's
Elders ELD.AX with "hold" rating and price target of A$7.70
** Brokerage says it is currently hard to factor in benefits
from the agriculture inputs supplier's strategies
** Expects co's FY24 net profit after tax about 2% below
market estimates and 6% lower in FY26
** Sees risk to livestock export trade to affect co's
operations due to animal welfare concerns
** Stock last closed at A$8.28
** Stock fell 25.7% in 2023
(Reporting by Rishav Chatterjee in Bengaluru)
((Rishav.Chatterjee@thomsonreuters.com;))
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