Elders's New Bull Sees End to Profit Downgrades -- Market Talk

Dow Jones04-09

0038 GMT - Citi turns bullish on rural-services company Elders despite Monday's profit warning. In a note, analyst William Park lowers a forecast for FY 2024 underlying EBIT by 26% to A$130 million, putting it at the midpoint of Elders's new guidance range of A$120 million-A$140 million. "However, given earnings are now rebased with improving outlook in the near term, we think ascribing higher valuation multiples is appropriate at this juncture," says Citi, moving to buy from neutral. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

April 08, 2024 20:38 ET (00:38 GMT)

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In a note, analyst William Park lowers a forecast for FY 2024 underlying EBIT by 26% to A$130 million, ...</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":"2426977038","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2426977038","pubTimestamp":1712623080,"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":"0038 GMT - Citi turns bullish on rural-services company Elders despite Monday's profit warning. 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