Select Harvests Could Benefit From California Legislation -- Market Talk

Dow Jones06-12

0456 GMT - Select Harvests' bull at Bell Potter reckons that the Australia-listed almond grower could benefit from the implementation of water-management legislation in California. Analyst Jonathan Snape explains that the state's Sustainable Groundwater Management Act could potentially result in a multi-year reduction to Californian almond supply. This would then kickstart an upward price cycle that would materially benefit Select Harvest. Regions covering 80% of Californian almond orchards are required to reduce groundwater use by between 27% and 32%, he says, and sees no way in which almond orchards are not removed as restrictions come into effect. Bell Potter has a buy rating on the stock and a target price of 5.30 Australian dollars. Shares are up 2.4% at A$3.90. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

June 12, 2026 00:56 ET (04:56 GMT)

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Regions covering 80% of Californian almond orchards are required to reduce groundwater use by between 27% and 32%, he says, and sees no way in which almond orchards are not removed as restrictions come into effect. Bell Potter has a buy rating on the stock and a target price of 5.30 Australian dollars. Shares are up 2.4% at A$3.90. 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Analyst Jonathan Snape explains that the state's Sustainable Groundwater Management Act could potentially result in a multi-year reduction to Californian almond supply. This would then kickstart an upward price cycle that would materially benefit Select Harvest. Regions covering 80% of Californian almond orchards are required to reduce groundwater use by between 27% and 32%, he says, and sees no way in which almond orchards are not removed as restrictions come into effect. Bell Potter has a buy rating on the stock and a target price of 5.30 Australian dollars. Shares are up 2.4% at A$3.90. 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