Australia's Select Harvest hits 11-week high; Bell Potter lifts PT on rising almond prices

Select Harvests

12/09/2025 06:03

** Shares of Australia's Select Harvest SHV.AX rise as much as 12.2% to A$4.32, their highest level since June 25

** Bell Potter raises 12-month target price for the almond producer to A$5.45 from A$5.30l, retains "buy" rating

** Brokerage notes AUD almond prices have moved to a 3-month high of ~A$10.35/kg, up +19% YOY, tracking a rally in USD almond prices driven by mixed early harvest reports in California, U.S.

** Notes SHV has been reporting strong pollination across its South Australia orchards

** Sees FY25e EBITDA at A$46.9 million ($31.22 million), and FY26e EBITDA at A$82.5 million

** Expects long-term under development of orchards in California to limit supply, driving future almond prices up

** Stock posts its biggest intraday pct gain since January 31, 2024

** SHV last up 10%, trimming YTD losses to 0.7%

($1 = 1.5024 Australian dollars)

 (Reporting by Shruti Agarwal in Bengaluru)

 ((Shruti.Agarwal@thomsonreuters.com))