GrainCorp's Performance, Capital Returns Appeal to Bull -- Market Talk

Dow Jones05-17

0116 GMT - GrainCorp keeps its bull at Bell Potter after the Australian grain handler's 1H result beat the broker's expectations. Analyst Jonathan Snape tells clients in a note that, although restated divisional results makes year-earlier comparisons difficult, GrainCorp's 1H underlying net profit of A$56.5 million compared with his forecast of A$54.5 million. GrainCorp's A$0.10 special dividend and soon-to-commence A$50 million buyback show that returning capital remains a priority, he adds. Bell Potter keeps a buy rating on the stock and raises target price by 3.3% to A$9.50. Shares are up 3.4% at A$8.42. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

May 16, 2024 21:16 ET (01:16 GMT)

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Analyst Jonathan Snape tells clients in a note that, although restated...</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":"BK7505","symbol_name":"食品股","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2436932046","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2436932046","pubTimestamp":1715908560,"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":"0116 GMT - GrainCorp keeps its bull at Bell Potter after the Australian grain handler's 1H result beat the broker's expectations. 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