SELL 13/12/2023
Nufarm (NUF)
*** GENERAL ADVICE ONLY ***
Description
Industry: Agricultural Chemicals
Nufarm is an Australian agricultural chemicals company with manufacturing and marketing operations in Australia, Asia, Europe and North America. First established in 1956, it became a listed company in 1988
Metrics
Market Cap: $1.9B
PE: 12
Yield: 2.48%
SELL 3%
Allocation: 3% Entry: $4.50
Recommendation to SELL: >$4.90 (+11% inc dividends)
Catalyst
With the recent rain across Australia, we have initiated an overweight position in ELD and GNC due to promising summer crops.
In terms of sector weighting we think it prudent to reduce exposure in the agricultural sector and take profit in NUF, given its north American exposure and while uncertainty surrounding El Nino
Disclaimer: The recommendation given is general advice only. It does not take into account your personal objectives, financial situation, or specific needs. This information should not be your sole resource when making such decisions. We strongly recommend you to seek the advice of financial, taxation, and legal professionals before finalising any investment decisions.