Solid set of results with strong growth in all their markets.
Outlook cautious and tempered by uncertainty around cost pressures and supply chain dislocations - which I think is prudent (under-promise and then if possible over-deliver).
Wrap up of Broker Targets following results:
Ord Minnett $5 HOLD Credit Suisse $5.14 Neutral Morgan Stanley $4.90 Equal Weight Macquarie $6.35 Add UBS $6.15 Buy
Average Broker Target $5.51 (about +15% on Friday's close of $4.81).
With very low leverage (0.9 X) and strong potential of the Seed Tech business in coming years - I personally feel very comfortable with the risk-reward equation and medium-term value proposition here.
NUF Price at posting:
$4.81 Sentiment: Buy Disclosure: Held
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