BUZZ-Jefferies puts Australia's Nufarm on "hold" rating after annual profits plunge

Reuters
2024-11-15

** Jefferies flags caution on Nufarm as volatile markets and European operations impact the pesticide producer's profits

** Co's annual profit plunged nearly 100% to a loss of A$6 mln ($3.87 mln)

** Brokerage rates stock at "hold", assigns PT of A$4.40

** Sees normalization of profitability for NUF over time and resumption of more normal earnings levels in the Australian segment due to easing drought conditions

** Says stock performance shows mixed trends, largely influenced by external factors like weather conditions and market dynamics

** Two of 12 analysts rate the stock "buy" or higher with 9 as "hold" and 1 as "strong sell"; their median PT is A$4.32 – LSEG data

** Stock down 25.7% YTD, as of last close

($1 = 1.5497 Australian dollars)

(Reporting by Kumar Tanishk in Bengaluru)

((Tanishk.Kumar@thomsonreuters.com;))

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