BUZZ-Australia's Incitec Pivot extends losses on lower production outlook; Macquarie lowers PT

Reuters
02-11
BUZZ-Australia's Incitec Pivot extends losses on lower production outlook; <a href="https://laohu8.com/S/MQG.AU">Macquarie</a> lowers PT

** Shares of Incitec Pivot IPL.AX fall 1.2% to A$2.905

** Shares of the fertilizer producer mark their worst intraday session since February 3

** Co said on Monday that FY production at its Phosphate Hill Plant in Queensland will likely be impacted by sulphuric acid supply interruptions and weather events, shares closed 1% lower on the day

** Macquarie lowers price target $(PT)$ to A$3.09 from A$3.15, maintains "neutral" on stock

** Brokerage accounts for lower FY25 earnings outlook due to Phosphate Hill plant production outlook

** Five of 12 analysts rate the stock "buy" or higher, seven "hold"; their median PT is A$3.20 – according to data compiled by LSEG

** Incitec stock rose 19.5% in 2024

(Reporting by Nichiket Sunil in Bengaluru)

((Nichiket.Sunil@thomsonreuters.com;))

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