JPM trims PT on Aussie Lynch Group on China business woes

Lynch group

27/11/2023 24:50

** Analysts at J.P. Morgan lower PT on Australia's Lynch
Group  LGL.AX  to A$2.20 from A$2.50
    ** Says the horticulture firm is facing a very challenging
outlook in China, as pricing is heavily impacting margins
    ** Adds, Australian business, in contrast, continues to see
margin improvement and solid sales growth, even though both are
running below their expectations
    ** Brokerage has a rating of 'overweight'
    ** Stock has risen 33.3% this year, as of last close

 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))