El Nino Event Doesn't Automatically Hurt GrainCorp -- Market Talk

Dow Jones
06/18

0249 GMT - The declaration of an El Nino weather event doesn't change Jarden analysts' view of GrainCorp, but it does make them more watchful. Australia's weather bureau this week said conditions met the definition of an El Nino event, which typically brings drier weather to Australia. However, Jarden's analysts remind clients in a note that such an event doesn't guarantee a bad crop, pointing out that northern and central regions have experienced significant rainfall since mid-May. They leave their forecasts for the grain handler and marketer where they were, but acknowledge that there is now downside risk. Jarden has a neutral rating on the stock and a target price of 5.40 Australian dollars. Shares are down 1.7% at A$5.15. (stuart.condie@wsj.com)

 

(END) Dow Jones Newswires

June 17, 2026 22:49 ET (02:49 GMT)

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