GrainCorp Faces a Difficult Growing Season, but Conditions Will Improve in the Long-Run
We’ve lowered our fair value estimate for no-moat GrainCorp to AUD 8.50 per share from AUD 8.70 because of greater competition in this year’s challenging growing season, but still see the stock as slightly undervalued. We expect improving long-term earnings and cash flow from an eventual return to more-normalised crop growing conditions in Australia and growth in GrainCorp’s other business lines.It’s no secret that GrainCorp is facing a challenging near-term growing season. The Australia Burea...
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