Macquarie: Nufarm now trading at a 25% discount to its global peers

Macquarie: Nufarm now trading at a 25% discount to its global peers. Nufarm (ASX: NUF), the agricultural chemical company, has announced a re-organisation of its Australian operations (they've slashed 105 jobs), which are expected to result in annual cost savings of up to $13m once complete. NUF is targeting gross margin of 23% for the Australian business (last year was 19%) and notes that $70-80m EBIT is a more realistic goal going forward. Macquarie rates the stock as an outperform, setting a target price of $5.19. According to Macquarie's valuation, the group is currently trading at a ~25% discount to its global peers.


1 topic

The Livewire Equities feed brings you a range of insights that relate to Australian equities

Expertise

No areas of expertise

I would like to

Only to be used for sending genuine email enquiries to the Contributor. Livewire Markets Pty Ltd reserves its right to take any legal or other appropriate action in relation to misuse of this service.

Personal Information Collection Statement
Your personal information will be passed to the Contributor and/or its authorised service provider to assist the Contributor to contact you about your investment enquiry. They are required not to use your information for any other purpose. Our privacy policy explains how we store personal information and how you may access, correct or complain about the handling of personal information.