0030 GMT - Ricegrowers' bull at Bell Potter sees the current unfavorable seasonal factors presenting an opportunity for investors to accumulate stock. Analyst Jonathan Snape tells clients that current low levels of storage utilization around Australia's Southern Murray-Darling Basin and the rising risk of drier conditions through 2H 2026 suggest two consecutive poor cropping outcomes. Yet he remains constructive on Ricegrowers' ability to drive earnings growth, and sees global price indicators hinting at an improved position relative to 2026 domestic contract prices. Bell Potter cuts its target price 9.3% to A$17.00 and keeps a buy rating on the stock, which is down 0.2% at A$12.20. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
March 19, 2026 20:30 ET (00:30 GMT)
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