Jefferies bets on improving weather conditions for GrainCorp
06/05/2024 21:23
** Jefferies upbeat on Australia's GrainCorp GNC.AX
betting on improving weather conditions for FY25
** Brokerage firm says following the end of El Niño, growing
conditions are improving with positive soil moisture profiles
** Jefferies adds FY25 is looking more positive due to
improving growing / soil moisture conditions in Australia
** Says expectations are improving for FY25 winter crop
** Six of eight analysts rate the stock "buy" or higher, one
"hold" and one "sell" or lower; their median PT is A$8.90 – LSEG
data
** Jefferies rates the stock "buy" with a PT of A$9.65
** Stock has risen 11.3% YTD
(Reporting by Rajasik Mukherjee in Bengaluru)
((Rajasik.Mukherjee@thomsonreuters.com;))