Brokerage Jefferies sees earnings headwind for Australia's Nufarm

Nufarm

28/09/2023 23:15

** Brokerage Jefferies says Nufarm's  NUF.AX  future core
profit expected to decline due to unfavourable market conditions
for the seed tech company   
    ** Cuts PT to A$5.30 from A$6.20 with "hold" rating    
    ** Volatile agricultural input markets will continue to 
impact group profitability - Jefferies
    ** Reduces its estimates for the company's FY24 and FY25
EBITDA, by 2.9% and 1.4%, respectively
    ** Six of 11 analysts rate the stock "buy" or higher, five
"hold"; their median PT is A$6.15 – LSEG data
    ** YTD, stock down 23% through last close

 (Reporting by Adwitiya Srivastava in Bengaluru)
 ((Adwitiya.Srivastava@thomsonreuters.com;))