Australia's Nufarm hits 3-month high; analysts raise PT on strong growth outlook

Nufarm

20/11/2025 01:11

Adds shares, Macqaurie comments

** Australian agribusiness Nufarm Ltd NUF.AX rises as much as 11.4% to A$2.64, its highest since August 20

** Citi upgrades rating to 'Neutral' from 'Sell' to reflect better earnings growth outlook, raises PT to A$2.55 from A$2.35

** Macquarie analysts also raise PT to A$2.77 from A$2.55

** Co on Wednesday reported better-than-expected FY25 earnings, strong FY26 outlook, and named Rico Christensen as its new CEO

** Citi and Macquarie both say Christensen's appointment was "logical" is likely to be well received by the market given his extensive experience across agricultural industry

** "While balance sheet risk lingers, we are encouraged by more constructive growth trajectory and removal of the Seed Technologies overhang" — Citi

** Citi surprised by NUF's decision to hold onto seed technologies business instead of a sale or closure, but notes co's focus on reducing costs and capital requirements

** Citi says there could be upside to omega-3 earnings expectations if uptick in fish oil price in November persists

** As of last close, stock down 33.1% YTD

(Reporting by Himanshi Akhand in Bengaluru)

((Himanshi.Akhand@thomsonreuters.com;))