2153 GMT - Bell Potter remains confident in its buy call on Australian Agricultural Co. Domestic cattle prices have rebounded and remain undervalued relative to meat price indicators, analyst Jonathan Snape says. Also, values of agricultural land and water assets have been robust this year. "The discount to net asset value remains excessive and in light of the material uplift in production volumes in recent years, we would see AAC as more leveraged than past cycles to firmer cattle and meat pricing," Bell Potter says. Its price target falls 2.5% to A$1.95/share. AAC ended last week at A$1.38. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

November 17, 2024 16:53 ET (21:53 GMT)

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