2251 GMT [Dow Jones]--GrainCorp's strong 1H result keeps Ord Minnett among the bulls. GrainCorp's 1H revenue represented a 7% beat to Ord Minnett's forecasts, while adjusted net profit of A$68.8 million was 9% ahead of estimates. The beat was driven by a winter crop on Australia's east coast that was some 30% larger than a year ago. GrainCorp upgraded its FY 2025 underlying net profit guidance to A$65 million-A$95 million as a result. "Our investment thesis that GrainCorp's through-the-cycle earnings and port assets are undervalued remains current," analyst John Lawlor says. "GrainCorp's strong balance sheet and capacity for further capital management initiatives has us retaining a Buy recommendation with a A$9.75 target price." GrainCorp ended Thursday at A$7.78. (david.winning@wsj.com)
(END) Dow Jones Newswires
May 15, 2025 18:55 ET (22:55 GMT)
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