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Elders Limited

( ASX:ELD ) - Food- Beverage & Tobacco

News

Elders Adds To Rural Services Consolidation

With Canadian group, Nutrien trying its own bit of rationalisation in the rural sector, (and running into problems with the ACCC), Elders has joined the party with a $157 million cash and shares offer for the unlisted private wholesale buying group Australian Independent Rural Retailers (AIRR).

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Analyst Views

ELD – Morgans rates the stock as Hold

The company’s trading update has underscored the sensitivity to adverse seasonal conditions and commodity prices. Morgans downgrades operating earnings forecast by -4.5%. As the stock is trading materially above long-term averages a severe reaction in the share price was not unexpected.

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