Nufarm Gets New Bull as Jefferies Upgrades to Buy
Nufarm Gets a New Bull as Jefferies Upgrades to Buy
Crop-chemicals supplier Nufarm has received a bullish upgrade from Jefferies, citing a cyclical inflection point. Analyst Ramoun Lazar upgraded the stock to 'buy' following confirmation of a cyclical turnaround in Crop Protection and Seeds.
Improved Cash Flow and Deleveraging Path
Jefferies highlights improved cash flow outlook that provides a viable pathway to deleveraging. The company's Growth Platforms business also shows improved prospects, with easing omega-3 costs and a reducing capital profile.
Regulatory Tailwinds and Price Target
With regulatory easing in Europe and China, Jefferies believes leverage risks have abated. The firm raised its price target by 32% to A$3.50 per share. Nufarm shares closed Wednesday at A$2.91.
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