Old Minnett: Nufarm Limited shares are a buy

Shares in crop protection company Nufarm Limited (ASX: NUF) were down 1.3% to $8.58 at the time of writing off the back of a 12-month period of declines, with the share price dropping 15.8% from its 52-week high of $10.20.

Private wealth manager Ord Minnett have upgraded Nufarm Limited from a hold to a buy recommendation noting that Nufarm has enjoyed strong-sales momentum in core geographies despite “little or no market growth” recently.

Ord Minnett has raised its price target on Nufarm from $9.00 to $10.50, with “increased valuation support” behind the upgrade in rating.

Nufarm posted half-year results to January 31, 2017 late last week, with underlying NPAT dropping 46% from the previous corresponding period and underlying EBIT also down 12% – results Ord Minnett pegged to weakness in its Latin America market and downtime at the Laverton plant.

Nufarm are expecting a turnaround for the second-half with EBIT growth guidance of between 5% and 10% and a product portfolio diversification strategy tipped to improve margins and lead to new product launches.

Investors who have been keen on Nufarm should head to the starting blocks sometime soon.

Don’t Buy A SINGLE Stock Until You Read This

While conflict overseas is all media talking-heads seem to mention these days, the billionaire founder of Tesla is losing sleep over what he sees as a far bigger threat.

Elon Musk Warns: This has “vastly more risk than North Korea”

If you missed your opportunity to get in on Google, Microsoft, or Amazon in their early days, don't let it happen again. This emerging technology trend could offer a second chance for anyone who wishes they took part in these millionaire-maker stocks.

Click here to discover more!

Motley Fool contributor Carin Pickworth has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The 5 mining stocks we’re recommending in 2019…

For decades, Australian mining companies have minted money for individual investors like you and me. But if you believe the pundits and talking heads on TV, those days are long gone. Finito! Behind us forever…

We say nothing could be further from the truth. To earn the really massive returns, you’ve got to fish where others aren’t fishing—and the mining sector could be primed for a resurgence. That’s why top Motley Fool analysts just revealed their exciting new research on 5 ASX miners they believe could help you profit in 2019 and beyond…


The best way we see to play the global zinc shortage… Our #1 favourite large-cap miner (hint: it’s not BHP)… one early-stage gold miner we think could hit the motherlode… Plus two more surprising companies you probably haven’t heard of yet!

For free access to our brand-new research, simply click here or the link below. But be warned, this research is available free for a limited time only, and we reserve the right to withdraw it at any time.

Click here for your FREE report!