2233 GMT - GrainCorp loses a bull in Bell Potter which thinks the peak in positive consensus earnings revisions is near. Analyst Jonathan Snape says consensus FY 2025 Ebitda forecasts have risen 8% in the past month and are up 21% over the past three months. The catalyst for those moves was a strong winter crop report from government forecaster Abares in September. "Post the crop report we have seen some risk enter southeastern production forecasts and varied movements in basis across east coast markets," says Bell Potter, downgrading GrainCorp to hold from buy. GrainCorp's stock ended Wednesday at A$9.14 and is up some 7.2% over the past month. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
October 09, 2024 18:33 ET (22:33 GMT)
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