ELD – Citi rates the stock as Buy

Citi analysts point out the 2020/21 winter crop is set to beat expectations, with record collections during the current harvest. 

In addition, above-average rainfall is expected to continue until autumn, creating favourable conditions for sales of rural products.

Long story short: Citi sees plenty of justification for its above-consensus forecasts, which are supporting the Buy rating and $13 price target.

Sector: Food, Beverage & Tobacco.

 

Target price is $13.00.Current Price is $10.71. Difference: $2.29 – (brackets indicate current price is over target). If ELD meets the Citi target it will return approximately 18% (excluding dividends, fees and charges – negative figures indicate an expected loss).

 

 

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