NUF 0.51% $3.97 nufarm limited

*******It may start an up cycle.sp reached $10 in 2017. ow=$5....

  1. HSP
    5,051 Posts.
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    *******It may start an up cycle.
    sp reached $10 in 2017. ow=$5. it had difficult a couple years.
    The weathers in the most countries where NUF has businesses are good.

    broker, MB

    Action and recommendation
    Upgrade to Outperform (from Neutral).

    Earnings and target price revision
    • We increase FY21e, 22e and 23e EPS by 84%, 30% and 20% respectively
    (law of small numbers at play). This reflects higher Australian/NZ and
    European earnings and lower interest expense. This also incorporates change
    in balance date to Sept Y/E. We lift our TP to $5.50 from $4.50 based on a
    global peer valuation (EV/EBITDA of 8.5x FY21e).

    *******EPS increased huge amounts for FY21, 22, 23

 
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