Elders Retains Bull Despite Surprisingly Weak 1H -- Market Talk

Dow Jones04-11

0232 GMT - Elders retains its bull at Bell Potter despite the agricultural products and services provider's weaker-than-expected 1H trade. Analyst Jonathan Snape tells clients in a note that he had already expected Elders' full-year performance to show an unusually strong skew toward 2H, but that the 1H performance has prompted him to lower his outlook to reflect factors including weaker levels of livestock trade. He cuts his net profit forecasts for FY 2024, FY 2025 and FY 2026 by 16%, 8% and 6%, respectively. Target price falls 4.2% to A$9.10, but Bell Potter keeps a buy rating on the stock. Shares are up 1.5% at A$8.295. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

April 10, 2024 22:32 ET (02:32 GMT)

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Analyst Jonathan Snape tells clients in a note that he had ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK7117","symbol_name":"农产品","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2426447027","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2426447027","pubTimestamp":1712802720,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0232 GMT - Elders retains its bull at Bell Potter despite the agricultural products and services provider's weaker-than-expected 1H trade. 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