2255 GMT [Dow Jones]--The recent rally by almond prices leads Bell Potter to raise its price target on Select Harvests by 2.8% to A$5.45/share. Almond prices denominated in U.S. dollars are up some 26% from lows. The move is on the back of mixed early harvest reports in California, which suggests a government forecast for the overall crop may by too optimistic. Analyst Jonathan Snape notes volatility in almond pricing has been a feature since May. "However, the long-term under development of orchards in California implies a period of limited supply expansion potential, which we view as a positive for the direction of future almond pricing trends," Bell Potter says. It retains a buy call on Select Harvests, which ended Thursday at A$3.85. (david.winning@wsj.com)
(END) Dow Jones Newswires
September 11, 2025 18:57 ET (22:57 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.