2233 GMT - GrainCorp loses a bull in Bell Potter which thinks the peak in positive consensus earnings revisions is near. Analyst Jonathan Snape says consensus FY 2025 Ebitda forecasts have risen 8% in the past month and are up 21% over the past three months. The catalyst for those moves was a strong winter crop report from government forecaster Abares in September. "Post the crop report we have seen some risk enter southeastern production forecasts and varied movements in basis across east coast markets," says Bell Potter, downgrading GrainCorp to hold from buy. GrainCorp's stock ended Wednesday at A$9.14 and is up some 7.2% over the past month. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
October 09, 2024 18:33 ET (22:33 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.