Jefferies downgrades rating, cuts PT on Australia's Nufarm on soft first-half results

Nufarm

21/05/2025 20:32

** Analysts at Jefferies downgrade rating on Australia's Nufarm NUF.AX to "underperform" from "hold"; cut PT to A$1.96 per share, from A$4.40 per share

** Agricultural technology firm on Wednesday posted a lower HY statutory net profit after tax of A$29.8 million ($19.20 million), vs A$49.2 million reported last year

** Brokerage says the company reported "soft" first half results, missing consensus EBITDA and EPS by 15% and 18%, respectively

** Poor outcomes around Aquaterra (Omega-3 Canola) suggest little additional value can be ascribed to this business in near term - Jefferies

 ** Aquaterra is a land-based source of long-chain omega-3 fatty acids, a fish-nutrition complement

** Three of 11 analysts rate the stock "buy" or higher, seven "hold" and one "sell" or lower; their median PT is A$4.49, according to data compiled by LSEG

** Stock has fallen 20.6% this year, as of last close

($1 = 1.5521 Australian dollars)

(Reporting by Roshan Thomas in Bengaluru)

((Roshan.Thomas@thomsonreuters.com))