Macquarie lifts PT on New Zealand's Fonterra Shareholders' Fund

Fonterra Shareholders' Fund

26/09/2025 01:31

** Macquarie raises PT on Fonterra Shareholders' Fund FSF.NZ to NZ$8.61 from NZ$7.33; maintains "outperform"

** Lifts FY26 EPS estimate for FSF - part of Fonterra Co-Operative Group's FCG.NZ Trading Among Farmers (TAF) scheme, by 2.7% to include impact of Mainland divestment

** Trims FY27, FY28 EPS estimate by 3.3% and 2.4%, respectively

** Dairy operator posts stronger FY operating profit across businesses; declares record FY dividend

** FSF rises 0.9%, taking YTD gains to 52.9%

** FCG gains 1.5% to NZ$6.19, highest since January 30, 2018; up 47.4% YTD

 (Reporting by Sherin Sunny in Bengaluru)

 ((Sherin.Sunny@thomsonreuters.com))