Australia's Select Harvests rises; Bell Potter ups PT, earnings outlook

Select Harvests

22/07/2024 05:30

** Shares of Select Harvests  SHV.AX  rise as much as 2.7%
to A$4.5, their highest since Apr. 2
    ** Stock logs fifth session of consecutive gains
    ** Analysts at Bell Potter raise PT for the almond food co
to A$4.40 from A$3.75 and maintain "hold" rating
    ** Brokerage raises EBITDA estimates for FY24, FY25 and FY26
by 20%, 18% and 6% respectively based on upgraded almond price
assumptions
    ** Says while SHV would have continued to sell forward,
pricing has firmed since implying upside to co's FY24 pricing
expectations of A$7.57/Kg
    ** About 345,160 shares change hands, compared with the
30-day average volume of 273,033
    ** Stock has risen ~51% this year, as of last close

 (Reporting by Sneha Kumar)
 ((Sneha.Kumar@thomsonreuters.com;))