BUZZ-Australia's Elders falls, Bell Potter cuts PT on livestock headwinds

Reuters04-11

** Shares of fishing and farming co Elders fall as much as 1.8% to A$8.020 in early trade

** Analysts at Bell Potter reduce target price to A$9.10 from A$9.50, maintain "buy" rating

** Analysts see net effect of livestock activity conditions resulting in net profit after tax (NPAT) downgrades of 16% for FY24 estimates

** Brokerage says ELD's FY24 EBIT guidance of A$120 mln-A$140 mln ($78.07 mln-$91.08 mln) below consensus of A$169 mln

** Says it sees recent buyback as reasonable buying, with ELD remaining one of few ASX exposure to El Nino/La Nina transition

** Six of 12 analysts rate stock "buy" or higher and six "hold"; their median PT is A$9.00 - LSEG data

** Stock up 8.5% YTD, as of last close

($1 = 1.5370 Australian dollars)

(Reporting by Shivangi Lahiri in Bengaluru)

((shivangi.lahiri@thomsonreuters.com))

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