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Webster Limited Fully Paid Ord. Shrs. (ASX:WBA) water interests keeping them afloat

Analysts at CCZ Equities Research have placed a hold rating on emerging agribusiness company Webster Limited Fully Paid Ord. Shrs (ASX: WBA) on the belief its water entitlements will de-risk its 2019 crop from margin erosion.

According to CCZ, Webster’s ownership of water entitlements provides a competitive advantage, with the company able to generate record cotton harvests and walnut plantation growth by utilising its own internally-owned water entitlements.

CCZ has a $1.96 price target on the stock – up from $1.74 – with Webster shares opening the trading week at $1.82 – down from its 52-week high of $2.02 on June 19 but well up from its $1.39 share price at this time last year.

Elsewhere in the agribusiness space, short-selling activity in Australian Agricultural Company Ltd (ASX: AAC) shares appears to be declining as there is perhaps some market confidence that the company will have a better FY19 after a disappointing FY18.

While crop protection company Nufarm Limited (ASX: NUF) has seen some share price volatility – opening at $8.93 today – well down from its price of $9.61 at this time last year.

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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.

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