2334 GMT - Select Harvests' bull at Bell Potter still feels positive on the Australia-listed almond grower despite moderating his fiscal 2025 production forecast. Analyst Jonathan Snape trims his volume forecast following the grower's reiteration of its production guidance, telling clients that historic underinvestment including in crop nutrients is still having an impact. However, he reckons that the new orchard strategy implemented last year could lift yields as early as FY 2026. He also raises his pricing expectations to reflect recent trends, adding that Select Harvests has been achieving premiums on price benchmarks. Bell Potter keeps a buy rating and A$5.80 target price on the stock, which is up 0.2% at A$4.98. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
March 31, 2025 19:34 ET (23:34 GMT)
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