Bell Potter analyst Jonathan Snape maintained a Hold rating on Graincorp Limited Class A (GRCLF – Research Report) on August 11 and set a price target of A$8.55. The company’s shares closed last Thursday at $5.86.
Snape covers the Consumer Goods sector, focusing on stocks such as Select Harvests, Graincorp Limited Class A, and Australian Agricultural Company Limited. According to TipRanks, Snape has an average return of -12.2% and a 17.95% success rate on recommended stocks.
Currently, the analyst consensus on Graincorp Limited Class A is a Moderate Buy with an average price target of $6.51, an 11.09% upside from current levels. In a report released on August 11, UBS also maintained a Hold rating on the stock with a A$8.50 price target.
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GRCLF market cap is currently $1.29B and has a P/E ratio of 5.36.
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GrainCorp Ltd. engages in agribusiness with operations in food supply chain. It operates through the following segments: Grains, Malt and Oils. The Grains segment operates as two separate business units-Storage & Logistics and Marketing. The Grains segment includes grain receivals, transport, testing, storage of grains, marketing of grains & agricultural products, and the operation of grain pools. The Malt segment includes production of malt products, provision of brewing inputs and malting services to brewers and distillers. The Oils segment include processing and crushing of oilseeds, supplying edible oils and feeds, operating bulk liquid port terminals, storage, packaging, transport and logistics operations. The company was founded in 1916 and is headquartered in Sydney, Australia.
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