Morgans cuts Elders to accumulate and lowers target to A$7.20
Morgans analyst Belinda Moore downgraded Elders to accumulate from buy and cut her target price by 8.9%. Shares trade near A$6.25.
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what happened
Morgans analyst Belinda Moore says Elders trades at undemanding multiples, but the Australian agribusiness must rebuild investor confidence before a material rerating can be justified. In a note to clients she lowered her recommendation to accumulate from buy.
Moore expects next month's annual result to shed light on Elders' cost base, capital allocation, technology overhaul and the drivers of fiscal 2027 earnings growth. She notes the company has missed consensus expectations in recent years, so investors want proof that the new management can deliver.
Morgans lowered its target price by 8.9% to 7.20 Australian dollars. Elders shares are down 0.2% at A$6.25.
why it matters
The signal concerns the company more than the broader market: the annual result will be the key test of cost control and earnings growth. Source: Market Talk.
market impact
Elders and Australian agribusiness: cautious analyst views weigh on the stock's re-rating prospects
tags
instruments
sources
- Elders Needs to Rebuild Confidence to Justify Rerate — Market Talk, 26 October 2026 at 23:25 UTC
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