Jefferies hikes profit and revenue estimates on Australia's Nufarm, hikes PT

Nufarm

03/02/2022 19:58

** Jefferies raises price target on Australia's Nufarm
 NUF.AX  to A$5.20 from A$4.60 
    ** Says in FY22, ongoing strong demand underpinned by
favourable season for crop protection and tight supply can lead
to co's price growth
    ** Particularly in seeds...changes in seasonal conditions
will still affect growth trends, but if the seeds growth
strategy delivers, the risks related to this should fade over
the next 5 years - Jefferies
    ** Brokerage raises adjusted net profit estimates for co by
23.3% for FY22 and 28.6% for FY23 
    ** Raises revenue estimates for FY22 and FY23 by 13.4% and
9.2%, respectively 
    ** Five of 12 analysts rate the stock 'buy' or higher, six
rate it 'hold' and one 'sell', their median PT is A$5.73 -
Refinitiv Eikon 

 (Reporting by Tejaswi Marthi in Bengaluru)
 ((tejaswi.marthi@thomsonreuters.com))