Nufarm 2026 aspirational revenue target "increasingly achievable"- Jefferies

Nufarm

18/05/2023 20:33

** Jefferies says Nufarm Ltd's  NUF.AX  better-than-expected
first half result despite challenging markets has boosted
confidence in the resilience of the business
    ** Crop protection products maker reported 7% jump in HY
underlying net profit after tax to A$142 mln ($96.32 mln)
    ** Brokerage sees co's FY26 aspirational revenue targets as
"increasingly achievable"
    ** Jefferies raises PT by 2% to A$6.20, keeps "hold" rating 
    ** Citi says NUF's results were a strong 20% EBITDA beat vs
consensus; raises earnings estimates for H2 with a stronger
performance expected by co's Seed Technologies 
    ** Citi maintains PT of A$6.90 and "buy" rating
    ** Six of eleven analysts rate the stock "buy" or higher,
five "hold"; their median PT is A$6.90 – Refinitiv data
    ** As of last close, stock was down 13.5% this year

 (Reporting by Poonam Behura in Bengaluru)
 ((Poonam.Behura@thomsonreuters.com;))