0028 GMT - A mixed winter-crop outlook across Australia's states keep Jefferies analysts neutral on GrainCorp despite an overall positive picture. They tell clients in a note that 2024-25 crop volumes are forecast to rise 17% on year, which would make them the fifth highest on record. However, they point out that prospects aren't great in South Australia and Victoria states due to unfavorably dry conditions. Things look brighter in NSW and Queensland, with volumes forecast to hit near-record levels. Jefferies lifts its target price on the grain handler and marketer by 4.5% to A$9.30 and keeps a hold rating on the stock, which is up 1.7% at A$9.16. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
September 29, 2024 20:28 ET (00:28 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。