Jefferies puts Australia's Nufarm on "hold" rating after annual profits plunge

Nufarm

14/11/2024 22:50

** Jefferies flags caution on Nufarm  NUF.AX  as volatile
markets and European operations impact the pesticide producer's
profits
    ** Co's annual profit plunged nearly 100% to a loss of A$6
mln ($3.87 mln)
    ** Brokerage rates stock at "hold", assigns PT of A$4.40
    ** Sees normalization of profitability for NUF over time and
resumption of more normal earnings levels in the Australian
segment due to easing drought conditions
    ** Says stock performance shows mixed trends, largely
influenced by external factors like weather conditions and
market dynamics
    ** Two of 12 analysts rate the stock "buy" or higher with 9
as "hold" and 1 as "strong sell"; their median PT is A$4.32 –
LSEG data
    ** Stock down 25.7% YTD, as of last close


($1 = 1.5497 Australian dollars)

 (Reporting by Kumar Tanishk in Bengaluru)
 ((Tanishk.Kumar@thomsonreuters.com;))