Crop Forecasts Look Supportive for GrainCorp's Volumes -- Market Talk

Dow Jones06-05

0003 GMT - Australian crop forecasts look supportive for GrainCorp's fiscal 2025 volumes, Wilsons analysts say in a note. They tell clients that the forecast, if accurate, could put an extra three million tons of grain into GrainCorp's fiscal 2025 supply chain. That's assuming the quality is reasonable, they add. The analysts write that this would drive higher income from receivals, export outloadings and contracted grain sales. The forecast may even imply a tilt toward the upper end of GrainCorp's fiscal 2024 earnings guidance range, they suggest. Wilsons lifts its target price 4.1% to A$8.61 and keep a market-weight recommendation on the stock, which is at A$8.87 ahead of the open. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

June 04, 2024 20:03 ET (00:03 GMT)

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The forecast may even imply a tilt toward the upper end of GrainCorp's fiscal 2024 earnings guidance range, they suggest. Wilsons lifts its target price 4.1% to A$8.61 and keep a market-weight recommendation on the stock, which is at A$8.87 ahead of the open. 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They tell clients that the forecast, if accurate, could put an extra three ...</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":"GNC.AU","symbol_name":"GRAINCORP LTD-A","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2441379267","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2441379267","pubTimestamp":1717545780,"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":"0003 GMT - Australian crop forecasts look supportive for GrainCorp's fiscal 2025 volumes, Wilsons analysts say in a note. 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