Australia's Graincorp gains most in two weeks; Macquarie lowers PT on dour outlook
14/02/2025 02:03
** Shares of Graincorp GNC.AX rise as much as 2.9% to
A$7.2, their biggest intraday pct gain since December 17, 2024
** Co's shares track positive sentiment in Australian
markets, with the S&P/ASX 200 .AXJO having hit a record high
earlier in the day
** Shares hit one-year low in the previous session after co
forecast lower-than-expected earnings for FY25
** Macquarie lowers stock's price target to A$8.76 from
A$9.85, accounting for lower FY25 earnings estimates
** Six of eight analysts rate the stock "buy" or higher, two
"hold"; their median PT is A$8.91 – according to data compiled
by LSEG
** Stock rose 21.7% in 2024
(Reporting by Nichiket Sunil in Bengaluru)
((Nichiket.Sunil@thomsonreuters.com;))