0006 GMT - Recent developments at Select Harvests disappoint its bull at Bell Potter, but only a little. Analyst Jonathan Snape isn't enthused by the almond grower's trading update and capital raise, but tells clients in a note that the stock is still worthy of a buy rating on the company's exposure to strengthening prices. Snape says the raise addressed a funding deficit caused by issues with a contractor, which Select Harvests believes have now been sorted. He lowers his forecasts to reflect dilution from the raise and cuts his target price 7.1% to A$4.60. Shares are down 1.8% at A$3.89. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
October 21, 2024 20:06 ET (00:06 GMT)
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